JSW One Platforms, the e-commerce arm of the $23 billion JSW Group, has appointed Manipal Group billionaire chairman Ranjan Pai to its board of directors as an independent director.
In his role, Pai will provide strategic guidance to the company and work over the next 18 to 24 months to improve JSW One Platforms' governance structure as it works toward an IPO, according to a statement Monday.
“We look forward to his valuable insights as we build and scale JSW One into the largest technology platform in India's $400 billion B2B market,” said Parth Jindal, Director, JSW One. said.
The Manipal chief recently expanded his portfolio of startups, becoming the single largest shareholder in Byju's Aakash and acquiring stakes in IPO-bound FirstCry, PharmEasy and online jewelery retailer Bluestone.
“JSW One Platforms ended FY2024 with a GMV of approximately Rs 9,000 crore. We will scale from here and embed an independent perspective within the board as we build our leadership in B2B e-commerce in India. We are keen to strengthen governance through this,” Gaurav Sachdeva said. CEO of JSW One Platforms.
The JSW Group division operates a B2B technology-enabled marketplace named JSW One MSME, aimed at selling construction materials from its steel, cement and paints business to MSMEs in India. It also operates a turnkey homebuilding business called JSW One Homes.
