JSW One Platforms Acquires BuildNext for Up to ₹100 Crore to Enhance Home Construction Services
IPO-bound JSW One acquires Pidilite-backed BuildNext for up to ₹100 crore
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JSW One Platforms Ltd has acquired BuildNext Construction Solutions Pvt for ₹80-100 crore to improve its digital services in the Indian residential construction market. This acquisition aims to address inefficiencies in home-building and enhance the overall customer experience.
- 01JSW One Platforms acquires BuildNext for ₹80-100 crore.
- 02The acquisition aims to streamline the home-building process in India.
- 03JSW One's valuation before the share swap was approximately ₹13,000 crore.
- 04BuildNext's revenue increased by 33% year-on-year to over ₹18 crore.
- 05Pidilite Industries will also invest up to ₹22 crore in BuildNext.
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JSW One Platforms Ltd, a subsidiary of the JSW Group, has announced the acquisition of BuildNext Construction Solutions Pvt for a total consideration of ₹80-100 crore. This move is aimed at enhancing its digital offerings in the Indian residential construction market. Gaurav Sachdeva, CEO of JSW One Platforms, emphasized that the acquisition targets inefficiencies in the home-building sector, which often suffers from poor coordination and visibility. By integrating BuildNext's technology into its platform, JSW One aims to provide a more organized and predictable home-building experience. The deal includes a share-swap agreement with Pidilite Ventures Pvt, a subsidiary of Pidilite Industries Ltd, which has invested in BuildNext. Prior to the share swap, JSW One was valued at around ₹13,000 crore. Additionally, Pidilite will invest up to ₹22 crore in BuildNext through compulsorily convertible preference shares. BuildNext reported a 33% increase in revenue year-on-year, reaching just over ₹18 crore despite posting a loss of ₹9 crore in the last fiscal year.
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This acquisition could lead to more efficient home-building processes, benefiting individual home builders, contractors, and architects by providing them with better tools and resources.
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