OfBusiness IPO Upcoming
Already have an account? Apply now
About OfBusiness
Founded in 2016 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Nitin Jain, OfBusiness is a leading B2B e-commerce platform that facilitates raw material procurement and credit for SMEs in manufacturing and infrastructure sectors. The company operates in sectors like chemicals, steel, and agriculture, making significant strides in growth and profitability.
OfBusiness Valuation
OfBusiness is preparing for an IPO in the second half of 2025, targeting a valuation between $6 billion and $9 billion, with plans to raise $750 million to $1 billion.
Operations & Performance of OfBusiness
In FY24, OfBusiness achieved a net profit of ₹603 crore, a 30% increase from the previous year, with operating revenue soaring over 25% to ₹19,296.3 crore. Factors like global supply chain diversification and India as a preferred sourcing destination have fuelled growth.
Future Plans of OfBusiness
OfBusiness aims to leverage IPO proceeds for debt repayment and business expansion. Amid intensifying competition, the company focuses on strategic acquisitions and market positioning, setting a target of ₹1,000 crore in after-tax profit before listing.