JSW One Acquires BuildNext for Up to ₹100 Crore in Strategic Deal
JSW One Platforms Acquires BuildNext Construction Solutions to Expand Digital Services
New Delhi: JSW One Platforms Ltd, a Sajjan Jindal-led conglomerate's B2B digital marketplace, has acquired home design and project management company BuildNext Construction Solutions Pvt in a move to expand its digital services for the Indian residential construction market.
The tech-enabled business-to-business (B2B) online platform is acquiring BuildNext for a total consideration of ₹80-100 crore, a person aware of the matter told Mint, requesting anonymity. The acquisition targets inefficiencies in the home-building sector, which currently lacks coordination and visibility.
With the acquisition, JSW One Platforms aims to deliver a more predictable and organized home-building experience at scale. The company plans to use BuildNext's capabilities to serve individual home builders, contractors, and architects. As part of the deal, JSW One will participate in a share-swap agreement with Pidilite Industries Ltd's subsidiary Pidilite Ventures Pvt, which is one of the investors in BuildNext.
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| Company | Revenue (₹ crore) | Growth (YoY) | Loss (₹ crore) |
|---|---|---|---|
| BuildNext (FY 2025) | 18 | 33% | 9 |
The transaction between JSW and Pidilite is expected to close by 10 August. As a result of the equity exchange, JSW becomes the owner of BuildNext and Pidilite joins the cap table of JSW One Platforms.
JSW One Platforms has held discussions with bankers for a $350-400 million initial public offering (IPO) later this year and is also in talks to raise a private round ahead of the listing. Last year, Pidilite was one of the leading contenders for paints firm Akzo Nobel India, which JSW Paints ended up acquiring for around ₹9,000 crore.
As part of the Buildnext transaction, the Pidilite subsidiary will invest up to ₹22 crore by subscribing to compulsorily convertible preference shares (CCPS) of Buildnext. JSW One will incorporate BuildNext's home design and project management technology into its existing platform, JSW One Homes.
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Investor Takeaway
JSW One Platforms Ltd is expanding its digital services for the Indian residential construction market through the acquisition of BuildNext Construction Solutions Pvt.
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