JSW Steel Ltd, promoted by Sajjan Jindal, has approved the sale of a stake worth ₹811 crore in its subsidiary JSW One Platform Ltd via an initial public offering (IPO), according to a regulatory filing on July 17. The shares will have a face value of ₹10 each, with pricing and other details to be finalized later.
The IPO will involve JSW Steel acting as the promoter selling shareholder, with the company stating that the price and other specifics of the offering will be determined by the competent body in compliance with applicable laws. JSW One reported a net profit of ₹90 crore in fiscal year 2026, representing 0.35% of JSW Steel’s consolidated net profit and 0.06% of its net worth.
This move allows JSW Steel to unlock capital from JSW One, a platform that has contributed modestly to the parent company’s overall profits. The ₹811 crore stake sale through the IPO aligns with broader trends of Indian conglomerates monetizing stakes in subsidiaries to raise funds and improve financial flexibility. JSW Steel’s decision follows similar listings by other large Indian industrial groups aiming to tap public markets.
JSW Steel’s regulatory filing did not specify the IPO timeline, but the company confirmed the stake sale amount and share face value. The next update on the IPO pricing and allotment is expected once the competent body completes its review and approvals.