Trade Unlisted is not regulated by the Securities and Exchange Board of India (SEBI). Investments in unlisted securities involve significant risk, including the risk of complete loss of capital. The filing of a Draft Red Herring Prospectus (DRHP) does not guarantee that an Initial Public Offering (IPO) will occur. Unlisted securities are inherently illiquid, price discovery may be limited, and exit opportunities may not materialize.
Trade Unlisted provides news, insights, and general market information for informational and educational purposes only. The content should not be construed as financial, investment, legal, or tax advice. Trade Unlisted does not act as a broker, investment advisor, fiduciary, or intermediary, and does not endorse, recommend, solicit, or validate any investment opportunity. Users are solely responsible for conducting their own independent due diligence before making any financial or investment decisions.
All information is derived from publicly available sources and market observations. While reasonable care is taken in preparing content, Trade Unlisted makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of the information provided. Users should independently verify all information prior to relying on it.
Funding Round: OfBusiness has secured ₹100 crore (~$11.7 million) in a funding round led by Cornerstone Ventures.
IPO Plans: The company is preparing for an initial public offering (IPO) anticipated in the second half of 2025.
Previous Investments: Prior to this round, OfBusiness had raised over $650 million from investors such as Alpha Wave, Tiger Global, and SoftBank, achieving a valuation of $5 billion.
Use of Funds: The newly acquired funds will be utilized to enhance digital adoption and provide financing access for small and medium enterprises (SMEs).
Company Overview: Founded in 2016, OfBusiness offers raw material procurement and financing solutions to SMEs in the manufacturing and infrastructure sectors.
Financial Performance: In the fiscal year ending March 2024, the company reported a 25.8% year-on-year increase in revenue to ₹19,296 crore and a 30.2% growth in profits, reaching ₹603 crore.
Competitive Landscape: OfBusiness competes with companies like Zetwerk, Infra.Market, and Moglix in the industrial goods and services procurement sector.
Source: https://entrackr.com/news/ipo-bound-ofbusiness-raises-rs-100-cr-led-by-cornerstone-ventures-8967733
Comments