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%.