JSW Group E-Commerce Arm Appoints Manipal Group's Ranjan Pai To Board
The move comes ahead of JSW One Platforms' initial public offering, planned in the next 18-24 months.
JSW One Platforms, the e-commerce arm of the $23-billion JSW Group, has appointed Manipal Group's billionaire Chairman Ranjan Pai to its board as an independent director.
Pai will provide strategic guidance to the firm in his role, and work on improving governance structures at JSW One Platforms, which is working towards an IPO over the next 18-24 months, according to a statement on Monday.
"I look forward to his invaluable insights as we build and scale JSW One into the largest tech platform in India’s $400 billion addressable B2B market," said Parth Jindal, director at JSW One.
The Manipal chief has also recently expanded his startup portfolio, becoming the single largest stakeholder in Byju's Aakash, and having picked up stakes in IPO-bound FirstCry, PharmEasy and online jewellery retailer Bluestone.
"JSW One Platforms exited FY 2024 at around Rs 9,000 crore GMV. As we scale from here and build leadership in B2B e-commerce in India, we are keen to enhance governance by incorporating an independent viewpoint within our board," said Gaurav Sachdeva, chief executive officer of JSW One Platforms.
The JSW group unit operates a B2B tech-enabled marketplace named JSW One MSME, aimed at selling construction materials from its own steel, cements and paints businesses to MSMEs in India. It also operates a turn-key home construction business called JSW One Homes.
