In an exchange filing, the company’s board approved the sale of equity shares with a face value of ₹10 each held in JOPL, aggregating up to ₹811 crore, subject to market conditions, regulatory approvals and other customary considerations.
JSW Steel said the price and other details of the proposed IPO will be determined at a later stage in accordance with applicable regulations, including the SEBI (Issue of Capital and Disclosure Requirements) Regulations.
According to the filing, JSW One Platforms contributed a share of profit of ₹90 crore in FY26, accounting for 0.35% of JSW Steel’s consolidated profit after tax. The carrying value of JSW Steel’s investment in JOPL stood at ₹68 crore as of March 31, 2026, representing 0.06% of its consolidated net worth.
The company said the proposed transaction is an offer for sale and does not qualify as a related-party transaction. The timeline for completion of the IPO has not yet been finalised.
The announcement comes on the back of a strong June quarter for JSW Steel. The company reported a more-than-twofold jump in consolidated net profit to ₹4,696 crore, while revenue rose 9.8% to ₹47,364 crore.
EBITDA increased 24% to ₹9,383 crore, with the margin expanding to 19.8% from 17.6% a year ago, driven by higher steel realisations and record first-quarter steel sales of 6.25 million tonnes.
JSW Steel shares gained more than 2% to touch an intraday high of ₹1,242.60 on the NSE following the company’s June-quarter results and the subsequent IPO announcement.
