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SoftBank-backed OfBusiness revives IPO plans, eyes up to $800 million issue

The Times of India August 5, 2026

SoftBank-backed OfBusiness revives IPO plans, eyes up to $800 million issue - The Economic Times Benchmarks

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News›Markets›IPOs/FPOs›SoftBank-backed OfBusiness revives IPO plans, eyes up to $800 million issue

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Today's Paper SoftBank-backed OfBusiness revives IPO plans, eyes up to $800 million issueSECTIONSSoftBank-backed

OfBusiness revives IPO plans, eyes up to $800 million issueBy Rajesh Mascarenhas and Baiju Kalesh, BloombergLast

Updated: Aug 05, 2026, 11:28:00 AM ISTRate StoryFollow usShareFont

SizeAbcSmallAbcMediumAbcLargeSavePrintCommentSynopsisSoftBank-backed OfBusiness is reviving its IPO plans, aiming to

raise up to $800 million through a mix of fresh issue and offer for sale amid improving Indian market

conditions.ETtechSoftBank-backed OfBusiness revives IPO plans, targeting up to $800 million fundraising in India.OFB

Tech Pvt, the operator of technology supply chain and financing platform OfBusiness, is considering reviving plans for

an initial public offering that could raise as much as $800 million, according to people familiar with the matter.The

SoftBank Group Corp.-backed company is working with Axis Capital Ltd., Morgan Stanley, JPMorgan Chase & Co., and

Citigroup Inc. to help prepare for the potential listing, the people said, asking not to be identified because the

information is private. The company is aiming to file its draft prospectus as soon as November, the people said.An

earlier attempt to list OfBusiness a few years ago was put on hold amid weak market conditions, the people said. The

revived offering is expected to include a fresh issuance of up to $200 million, with the remainder being sold by

existing shareholders, they said.Beyond SoftBank, backers also include Tiger Global Management, Norwest Venture

Partners, Matrix Partners, and Falcon Edge Capital, according to its website.Deliberations are ongoing and the timing,

size and structure of the share sale may change, the people said. Representatives for OfBusiness and the banks didn’t

immediately respond to requests for comment.Live EventsIndia’s market for new share sales has begun to recover after a

subdued first half of the year. Recent large offerings include SBI Funds Management Ltd. and Manipal Health Enterprises

Ltd. Companies have raised about $6.8 billion via IPOs this year, compared with a record $22.4 billion in all of last

year, according to data compiled by Bloomberg.Founded in 2015, OfBusiness operates a business-to-business commerce

platform that combines raw material procurement with embedded financing for small and medium-sized enterprises. The

company supplies products across categories including metals, chemicals, agricultural commodities and apparel, while

also offering working capital and credit solutions.Add as a Reliable and Trusted News Source Add Now! (You can now

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