OfBusiness Eyes $800M IPO at $6B Valuation
By ThePip Desk
B2B e-commerce unicorn OfBusiness revives IPO plans, aiming for an $800M raise and a $5-6B valuation, signaling a positive shift in the Indian IPO market.
OfBusiness, the B2B e-commerce unicorn, is reviving its plans for an initial public offering (IPO), seeking to raise up to $800 million. This move targets a substantial valuation between $5 billion and $6 billion for the SoftBank-backed company.
Offer Structure
The IPO is structured with a fresh issue component of up to $200 million.
An offer for sale by existing shareholders will also comprise a significant portion of the public issue.
OfBusiness anticipates filing its draft red herring prospectus (DRHP) by mid-November.
Financial Performance
The company reported a net profit increase of 21% to Rs 724 crore for FY26.
EBITDA also saw a rise of 34%, reaching Rs 769 crore in the same fiscal year.
This performance contributed to an improved EBITDA margin of 4%.
Previous Plans and Market Shift
OfBusiness had previously postponed its listing plans.
This revival follows a noticeable improvement in India’s IPO market sentiment.
The company has already secured nearly $900 million from various investors in prior rounds.
The final specifics of the share sale remain subject to change as the process moves forward.