JSW One eyes $350 mn IPO, pre-IPO round on

JSW One Platform, the Sajjan Jindal-led conglomerate’s B2B digital marketplace, has held discussions with bankers for an initial public offering (IPO) later this year, and is also in talks to raise a private round ahead of the listing, three people familiar with the matter said.

- Priyamvada C & Sneha Shah

The listing plans come amid growing investor interest in India's B2B commerce opportunity.

(REUTERS)

The company is looking to raise ₹650-700 crore in a private round within this quarter to benchmark its valuation ahead of the listing, the people said. In parallel, it is seeking to raise $350-400 million (₹3,250-3,700 crore) through an IPO and is expected to list by the end of the current financial year, one of them added.

“The company has held informal discussions with the bankers and appointments are likely to happen in the coming weeks,” the second person said, adding that the structures are subject to change as things are still being decided.

If the IPO goes as planned, the company will join the growing list of its peers such as Moglix, Ofbusiness, Infra.market, and Zetwerk that are also in various stages of their public listing.