JSW One Eyes Profitability This Year, Plans IPO by FY28

JSW One Is Looking to Go Public as a B2B Distributor of Steel Products Before Diversifying

- Dipali Banka & Nehal Chaliawala

JSW One Platforms, the Sajjan Jindal-led conglomerate's B2B digital marketplace, looks to break even this fiscal year and plans to go public by FY28, Gaurav Sachdeva, the company's joint managing director and chief executive said on Thursday.

The company aims to achieve a steady-state profit margin of 1%, he said. This would make it one of the first business conglomerate-led B2B e-commerce platforms to become profitable. Other such ventures include Aditya Birla Group's Birla Pivot, Larsen & Toubro's L&T SuFin and Tata Group's Nexarc.

JSW One targets ₹50,000 crore in gross merchandise value (GMV) in three years. GMV is the total monetary value of all the products sold on a platform. The company clocked a GMV of about ₹12,500 crore in FY25 on its platform with a revenue of about ₹4,000 crore, Sachdeva said.

"This year we should be profitable," Sachdeva said during an interview at the company's office in the Santacruz neighbourhood of Mumbai. "(IPO) somewhere in two years to two and a half years."