JSW One Platforms raises Rs 340 cr from Principal Asset Management, others
JSW One Platforms, the B2B e-commerce division of the JSW Group, on Tuesday announced a Rs 340-crore fundraise from Principal Asset Management and OneUp. The conglomerate's steel arm JSW Steel also participated in the round, after which the JSW One Platforms' valuation catapulted to USD 1 billion making it enter the coveted unicorn club.
ADVERTISEMENT The valuation has jumped by over three times since the last round of funding in April 2023, a company statement said, adding that it had then raised Rs 205 crore from Japan's Mitsui & Co.
The newly raised capital will strengthen the national supply chain in steel and cement categories, deepen distribution and logistics networks across India, scale the fintech and Non-Banking Financial Company (NBFC) arms, and enable wider access to credit for Micro, Small, and Medium Enterprises (MSME), it said.
"We're solving critical pain points by combining our tech-led distribution model with JSW Group's strength in manufacturing. We are well-positioned to fulfil the ambitions of India's expanding MSME sector," Parth Jindal, chairman of JSW One Platforms, said. Its joint managing director and chief executive Gaurav Sachdeva said the company's goal is to enable reliable procurement for MSMEs through quality materials, timely delivery, and the right credit solutions.
It aims to simplify sourcing and accelerate growth for over 5 lakh building and manufacturing MSMEs across the country, the statement said.
(You can now subscribe to our ETMarkets WhatsApp channel)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
16 minutes ago
- Economic Times
US SEC yet to serve legal documents to Gautam Adani, his nephew in alleged $265 million bribery case
The US SEC is actively working to serve legal documents to Gautam Adani and his nephew Sagar in India, concerning a securities case filed in November 2024. The case alleges false statements related to a bond offering by Adani Green Energy Ltd. The SEC is pursuing service through the Hague Service Convention, as the defendants are based in India. Tired of too many ads? Remove Ads The US Securities and Exchange Commission (SEC) has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last a June 27 letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service defendants, who are based in India, are yet to be officially SEC has to serve the summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million payoffs to win lucrative renewable power supply contracts, through proper diplomatic channels as it has no jurisdiction to summon a foreign national SEC originally filed the complaint on November 20, 2024, alleging that two violated US securities laws by making false and misleading statements related to a September 2021 bond offering by Adani Green Energy Ltd According to the SEC, Rule 4 (f) of the Federal Rules of Civil Procedure governs service in foreign jurisdictions and permits the use of international treaties, such as the Hague Convention. The rule does not impose a specific time limit for service, provided reasonable efforts are being made.
Time of India
19 minutes ago
- Time of India
Sugar production to increase by 15 pc to 35 million tonnes in SS 26 on favourable monsoon: Report
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Mumbai: Sugar output is likely to increase by 15 per cent in sugar season 2025-26 to about 35 million tonnes on a favourable monsoon, a report said on gross sugar production is likely to rise 15 per cent in sugar season 2026 to about 35 million tonnes, aided by above-average monsoon, boosting cane acreage and yields in key sugar-producing states like Maharashtra and Karnataka, Crisil Ratings said in the growth is expected to ease tightness in the domestic supply and has the potential to boost ethanol diversion and revive exports with appropriate policy support, it would offer sugar mills some relief from challenges of high cane costs, subdued ethanol prices and muted exports that compressed their operating profitability by 200 basis points (bps) to 8.7-9 per cent in fiscal 2026, with improved supplies and potentially higher diversion of sugar for blending ethanol with gasoline, the operating margin of sugar mills is likely to recover to about 9-9.5 per cent, said the report, adding that this is likely to support credit profiles of sugar players, which saw some pressure last the past two seasons, while the fair and remunerative (FRP) price of sugarcane has risen 11 per cent, ethanol prices have largely remained unchanged, compressing the miller's revenue-cost sugar season 2026, diversion for ethanol is expected to rise to 4 million tonnes (from 3.5 million tonnes in sugar season 2025), supported by high sugar output and the government's 20 per cent blending target (19 per cent average achieved so far), as it offers faster cash-flow churn, said the report."The strategic diversification to ethanol was intended to de-risk earnings and cash flow of sugar mills. But rising cane costs (cane FRP has been hiked by 4.5 per cent to Rs 355 per quintal for sugar season 2026) and stagnant ethanol procurement prices have limited improvement in profitability."As a result, the operating margin of integrated millers is likely to improve only marginally by 40-60 bps to 9-9.5 per cent despite a 15 per cent jump in sugar output. That said, standalone millers, lacking distillery or co-generation power sales, may continue facing margin pressure," Crisil Ratings Senior Director Anuj Sethi report further stated that sugar prices are likely to remain range-bound with output expected to rise, limiting any significant upside in profitability of sugar Ratings estimated exports, restricted at 1 million tonnes in sugar season 2025 owing to domestic supply concerns, are likely to continue at similar levels in sugar season 2026 with high sugar output and opening inventory of 2 months of said, any easing of export curbs will depend on the decision to divert higher volumes for ethanol, adequate domestic availability, benign inflation trends and favourable global price parity as seen in sugar season 2023, it added."Sugar inventory levels at the end of fiscal 2026 are expected to remain at levels similar to last year, limiting the rise in working capital debt despite higher distillery operations. With capital spending restricted to routine modernisation, overall debt levels of integrated players are expected to remain under control," Crisil Ratings Director Poonam Upadhyay the upcoming season, there is a need to watch the temporal and spatial distribution of monsoon, its impact on cane yield, timely ethanol price revisions and clarity on export policy amid global sugar price movements, the report added.
Time of India
19 minutes ago
- Time of India
US SEC yet to serve legal documents to Gautam Adani, his nephew in alleged $265 million bribery case
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The US Securities and Exchange Commission (SEC) has filed a status update with a federal court in New York, detailing its ongoing efforts to serve legal documents to billionaire Gautam Adani and his nephew Sagar in connection with a civil securities case filed last a June 27 letter submitted to Magistrate Judge James R Cho of the US District Court for the Eastern District of New York (EDNY), the SEC said it is continuing to pursue formal service of the summons and complaint under the provisions of the Hague Service defendants, who are based in India, are yet to be officially SEC has to serve the summons to Adani Group founder and chairman Gautam Adani and his nephew Sagar in the alleged USD 265 million payoffs to win lucrative renewable power supply contracts, through proper diplomatic channels as it has no jurisdiction to summon a foreign national SEC originally filed the complaint on November 20, 2024, alleging that two violated US securities laws by making false and misleading statements related to a September 2021 bond offering by Adani Green Energy Ltd According to the SEC, Rule 4 (f) of the Federal Rules of Civil Procedure governs service in foreign jurisdictions and permits the use of international treaties, such as the Hague Convention. The rule does not impose a specific time limit for service, provided reasonable efforts are being made.
