[YS Exclusive] SoftBank-backed OfBusiness taps bankers for $500M IPO next year

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[YS Exclusive] SoftBank-backed OfBusiness taps bankers for $500M IPO next year - YourStory

Quick Summary:

Oxyzo Financial Services, the lending arm of OfBusiness, in which it holds over a 70% stake, will also look to list separately but not immediately.

OfBusiness also doubled its revenue to over Rs 15,300 crore, making it one of the rare technology unicorns—startups valued at over $1 billion—that showcases strong revenue growth alongside robust profitability.

In FY23, which is the latest available data, OfBusiness made a profit of Rs 463.3 crore, which more than doubled from its FY22 profit of Rs 201.1 crore.