JSW One Platforms has filed draft papers with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 3,054 crore through an initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth up to Rs 1,300 crore and an Offer for Sale (OFS) of shares worth up to Rs 1,754.01 crore. The OFS will comprise shares sold by JSW Steel, JSW Cement and Mitsui & Co.
The company plans to use the net proceeds from the fresh issue to invest Rs 125 crore in JSW One Distribution towards marketing and brand-building activities, Rs 500 crore in JSW One Finance to augment its capital base and up to Rs 350 crore for technology and platform development. The remaining proceeds will be used for general corporate purposes. JM Financial, Kotak Mahindra Capital Company, ICICI Securities, SBI Capital Markets and PL Capital Markets are the book-running lead managers for the issue.
JSW One Platforms operates an integrated digital platform that connects MSMEs with sellers of manufacturing and construction materials. Its offerings include commerce, embedded financing, logistics, processing and customisation, and private brands.
