SoftBank-backed Indian e-commerce platform OfBusiness plans $1 billion IPO

2024-09-04 03:34:39

Asia Tech Wire (Sep 4) -- SoftBank-backed Indian B2B e-commerce platform OfBusiness is planning a $1 billion IPO, according to Reuters.

The company is in active talks with Bank of America, Citibank, JPMorgan Chase and Morgan Stanley to manage the offering, the report said, citing OfBusiness Chief Financial Officer Bhavesh Keswani.

OfBusiness plans to list in India in the second half of 2025.

SoftBank and U.S. investment firm Tiger Global together hold about 15% of OfBusiness, and investment firm Alpha Wave Global holds 18%.

Softbank India IPO

Email Subscription

Newsletters and emails are now available! Delivered on time, every weekday, to keep you up to date with North American business news.

Weekly Highlights

                                    Singapore investigates Nvidia server export fraud
                            2025-03-03

                                    Shenzhen: By 2027, there will be more than 1,200 companies related to the embodied intelligent robot industry cluster
                            2025-03-03

                                    Hongqi Chain Store: Deputy General Managers Zhang Ying, Wan Chun, Hong Fan and Yang Yuanbin resigned
                            2025-03-03

                                    Shenzhen: Focus on supporting key core technologies such as core components of embodied intelligent robots, AI chips, and bionic dexterous hands
                            2025-03-03

                                    Intel showcases Xeon 6 processor-based network infrastructure at MWC2025
                            2025-03-03