OfBusiness Targets $5B Valuation in Planned 2025 B2B Commerce and Fintech IPO
OfBusiness, a leading B2B platform facilitating raw material procurement and credit for small and medium enterprises, has finalized plans for its public market debut. Founded nearly a decade ago by co-founders Asish Mohapatra and Ruchi Kalra, the company aims to list in early 2025, maintaining its current valuation of $4.4 billion to $5 billion. This IPO represents a significant milestone for India's B2B enterprise ecosystem, testing public market appetite for high-volume, tech-enabled commerce and embedded credit platforms. The transition from private venture backing to public scrutiny highlights the company's mature unit economics and robust cash flows, distinguishing it from typical cash-burning tech startups. Institutional investors are watching closely as the firm aims to leverage its digital-first procurement workflows and underwriting capabilities to sustain long-term growth in a highly fragmented market. With its DRHP filing targeted for November, this listing will serve as a crucial bellwether for technology and B2B SaaS valuations in emerging markets.
Sentinel's Strategic Outlook
Indian B2B commerce and fintech giant OfBusiness is preparing for an initial public offering (IPO) targeting a valuation of $4.4 billion to $5 billion. The company expects to file its Draft Red Herring Prospectus (DRHP) in November, with the public issue slated for March-April next year.