OfBusiness IPO

Summary*

OfBusiness, a leading B2B e-commerce platform founded in 2015, has renewed its plans for an initial public offering (IPO) after previously deferring the process due to market conditions. The company, which provides an online marketplace for business-to-business commerce in sectors such as chemicals, steel, and agriculture, has experienced significant growth and profitability in recent years.

The South Delhi-based firm has reported impressive financial performance, with its operating revenue more than doubling to ₹15,342.57 crore in FY23, accompanied by a proportional increase in profit to ₹462.76 crore. For FY24, OfBusiness anticipates a further 38% surge in revenue and a 50% jump in profit, reaching ₹700 crore.

OfBusiness aims to tap the public markets within the next 12-15 months, setting a target of ₹1,000 crore in after-tax profit before listing. The company plans to appoint bankers in the coming 3-6 months and expects to file its draft red herring prospectus (DRHP) by the end of the year.

Several factors are influencing OfBusiness's IPO prospects, including the global shift towards diversifying supply chains and the increasing preference for India as a sourcing destination. These trends have provided a significant tailwind for the company's growth. Additionally, OfBusiness has made strategic acquisitions to strengthen its market position and expand its offerings.

As OfBusiness prepares for its potential IPO, the company faces rising competition from established players entering the B2B raw materials supply space. However, with its strong financial performance, strategic acquisitions, and favorable market conditions, OfBusiness appears well-positioned for a public listing in the near future.

How to invest in OfBusiness

While OfBusiness's IPO prospects remain uncertain, investors eager to gain exposure to promising B2B e-commerce platforms don't have to wait. At Linqto, we offer members access to interests in pre-IPO private companies, including potential leaders in the fintech and e-commerce sectors. Our platform allows you to diversify your portfolio with lower minimum investments in emerging industry leaders, potentially benefiting from their growth before they go public.

Sources

*These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO. The information provided above is based on current online discussions and is not intended as investment advice. Linqto does not endorse or guarantee the accuracy of this information, and we strongly recommend conducting your own research or consulting with a professional advisor before making any investment decisions. Linqto cannot be held liable for any investment outcomes resulting from the use of this information.