IPO-bound B2B e-commerce platform JSW One acquires project mgmt co. BuildNext

New Delhi-based JSW One Platforms has acquired Ernakulam-based home design and project management company BuildNext Construction Solutions , backed by publicly listed Pidilite Industries.The acquisition includes a share-swap agreement with Pidilite Industries' subsidiary Pidilite Ventures, an existing investor in BuildNext. As part of the transaction, Pidilite Ventures will also invest up to INR 22 crore in BuildNext by subscribing to compulsorily convertible preference shares (CCPS).Founded in 2015 by Gopi Krishnan V and Finaz Naha, BuildNext Construction Solutions is a home design and project management company. Pidilite had previously invested INR 3.75 crore in BuildNext. Combined with its existing holdings and the new CCPS, Pidilite’s stake would not exceed 34% of BuildNext's fully diluted share capital.