B2B marketplace unicorn OfBusiness has converted itself into a public company
The startup’s name has now changed to OFB Tech Limited from OFB Tech Private Limited earlier
This follows reports that OfBusiness was planning to file for a $1 Bn+ IPO in the second half of 2025
Taking yet another step in its preparations for its initial public offering (IPO), B2B marketplace unicorn OfBusiness
has converted itself into a public company.
The board of OfBusiness passed a resolution on January 27 to change the status of the company from private to public.
Following the board’s approval, OfBusiness has rechristened itself as OFB Tech Limited from OFB Tech Private Limited, the company’s regulatory filings accessed by Inc42 showed.
The development was first reported by the Economic Times.
Founded in 2016 by Asish Mohapatra, Ruchi Kalra, Vasant Sridhar, Bhuvan Gupta, and Nitin Jain, OfBusiness provides raw material procurement and financing solutions to SMEs for entities operating in manufacturing and infrastructure sectors through its platform.
It helps customers procure raw materials like metals, chemicals, polymers, agri commodities, petrochemicals, and building materials and infrastructure sectors.
(The story will be updated soon.)
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