New Delhi, July 17 -- Sajjan Jindal-promoted JSW Steel Ltd has approved the sale of a stake worth Rs.811 crore in JSW One Platform Ltd through the latter's proposed initial public offering (IPO), the company said in a regulatory filing on Friday. The shares will have a face value of Rs.10 each.

"The price and other details of the proposed IPO will be determined in due course by the competent body, in compliance with applicable law," JSW Steel said. The company will be classified as a promoter selling shareholder.

Parent entities, including various JSW Group companies, currently own 78.76% of JSW One, according to data from market intelligence firm Tracxn. The balance is held by enterprises, funds, and angel investors.

JSW One's net pro...