OfBusiness targets mid-November DRHP filing for $800M IPO

Indian B2B commerce unicorn OfBusiness is reportedly preparing to file its DRHP by mid-November for an IPO of about $800 million, including up to $260 million in fresh capital. The company is targeting a $5-6 billion valuation amid improved profitability and market conditions.

— Source publishedWed, 5 Aug, 2026, 16:04 IST·First seen Wed, 5 Aug, 2026, 16:24 IST·Source Inc42 · Buzz

What happened

Indian B2B ecommerce unicorn OfBusiness plans to file a DRHP for an $800 million IPO, targeting a $5-6 billion valuation. The company cited improved market

Key facts

  • $800 million proposed IPO
  • Up to $260 million fresh issue
  • Target valuation of $5-6 billion
  • FY26 net profit ₹724 crore, up 21% YoY
  • FY26 revenue ₹20,645 crore
  • FY26 EBITDA ₹769 crore, up 34% YoY
  • EBITDA margin 4%, versus 2.6%
  • Nearly $900 million raised

Why this matters

OfBusiness’ IPO preparation could create a better-capitalized consolidator and sharpen competitive pressure for B2B commerce partnerships, acquisitions, and supplier access.

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