JSW One Platforms, the burgeoning business-to-business (B2B) e-commerce arm of the diversified JSW Group, is setting its sights on an Initial Public Offering (IPO) within the next 18 to 24 months. The ambitious move is underpinned by the company's strong performance and a strategic goal to achieve break-even profitability within the current financial year.

Gaurav Sachdeva, Joint Managing Director and CEO of JSW One Platforms, confirmed the company's IPO aspirations in a recent interview. "We will be breaking even this year, and active appointments with investment bankers will begin from the next financial year," Sachdeva stated. This aggressive timeline positions JSW One Platforms to join a growing cohort of Indian industrial commerce players, including the likes of Zetwerk, Infra.Market, and OfBusiness, in tapping public markets.

The company, which recently achieved unicorn status with a valuation of $1 billion after a $40 million funding round in May 2025, has demonstrated impressive growth. JSW One Platforms recorded a Gross Merchandise Value (GMV) of approximately ₹12,500 crore in the last fiscal year (FY25), with a reported revenue of around ₹4,000 crore. This represents a substantial 2.4x increase in GMV over FY24.

Sachdeva emphasized that the immediate focus is not on large-scale capital infusion but on solidifying scale and meticulously planning for the public offering. "We don't need large-scale capital today. This year is about building scale and planning for the IPO," he added. The company aims for a steady-state profit margin of 1%, a significant milestone for a B2B e-commerce platform led by a traditional conglomerate.

JSW One Platforms, founded in 2020 by Sachdeva and Parth Jindal (Chairman of JSW One Platforms and scion of the JSW Group), plays a pivotal role in streamlining the procurement of steel and cement for micro, small, and medium enterprises (MSMEs). The platform currently handles an impressive 2.4 million metric tonnes of steel annually, accounting for approximately 1.6% of India's total steel supply. Its business model extends beyond a mere marketplace, offering a full-stack solution that includes distribution of third-party products, processed steel tailored to buyer specifications, and its own JSW One branded products.

A key differentiator for JSW One is its robust financial technology (fintech) arm, which facilitates working capital loans. The company disburses around ₹500 crore a month in loans, underwritten by banking partners, and has also established an in-house non-banking finance company (NBFC) to underwrite a portion of these loans. This integrated approach addresses a critical pain point for MSMEs – access to credit for material procurement.

Looking ahead, JSW One Platforms aims to significantly expand its footprint. The company plans to triple or quadruple its steel distribution scale before the IPO. Post-listing, it intends to leverage its established supply chain to diversify into other essential construction materials, such as cement and bitumen, positioning itself as a comprehensive material procurement solution for the manufacturing and construction sectors.

The move towards an IPO reflects JSW Group's strategic vision to capitalize on the digital transformation of India's B2B landscape. By going public, JSW One Platforms seeks to gain further legitimacy and liquidity, which would prove invaluable for future expansion plans and potential acquisition opportunities in a rapidly evolving market. With its sights set on profitability this fiscal year and a public listing on the horizon, JSW One Platforms is poised for a significant new chapter in its growth story.