OfBusiness: Profitable B2B Industrial Giant Advancing Toward a Major IPO

10 February 2026

Founded in 2015, OFB Tech Private Limited (OfBusiness) has established itself as a tech-enabled B2B industrial conglomerate and fintech platform, serving as a critical supply chain partner for India’s Small and Medium Enterprise (SME) sector. The company operates as a "one-stop" shop for manufacturing and infrastructure firms, offering a integrated solution that combines raw material procurement, tech-driven fulfillment, and embedded financial services. Its core operations span multiple industrial supply chains, including metals, chemicals, polymers, agri-commodities, and energy.

The company is currently preparing for a major mainboard Initial Public Offering (IPO) targeted for early 2026, with an estimated issue size between $750 million and $1 billion. This public debut follows a rapid scaling phase where the company reached a valuation of approximately $5 billion, positioning it as one of the few profitable unicorns in India’s B2B e-commerce space.

Business Model and Operating Footprint

OfBusiness operates a dual-engine business model that links industrial commerce with credit. As a commerce platform, it aggregates demand from thousands of SMEs to negotiate bulk pricing directly with large manufacturers and OEMs, passing on volume discounts to smaller players. The company has a significant operational footprint across 26 states and 7 Union Territories in India, and has expanded its presence to over 35 countries globally.

A key strategic pillar is its proprietary BidAssist platform, which enables SMEs to discover and bid for millions of government and private tenders using AI-driven analytics. Additionally, its fintech vertical, Oxyzo Financial Services, provides tailored, collateral-free working capital loans. By using transaction data from its commerce platform to underwrite these loans, OfBusiness has created a self-sustaining ecosystem that solves the primary SME pain points: expensive raw materials and lack of formal credit.

Capex and Future Growth Drivers
The proceeds from the upcoming IPO are intended to deepen the company's presence in the industrial value chain and enhance its technological moats. The primary growth drivers include:

• Vertical Integration & Manufacturing: Moving beyond pure aggregation into contract manufacturing and private labeling (via its OFG Manufacturing arm) to capture higher margins.
  
• Technological Advancement: Scaling its SaaS offerings and "Nexizo.AI" platform for real-time commodity price tracking and supply chain automation.
  
• Global Supply Chain Expansion: Strengthening its export-import footprint, particularly in high-demand categories like chemicals, steel, and agricultural products.
  
• Strategic Acquisitions: Continuing its track record of acquiring specialized supply chain and manufacturing firms to enter new industrial clusters.

Overall, OfBusiness represents a significant play on India’s $700 billion manufacturing sector. By merging a massive commerce engine with sophisticated data-driven financing, the company is uniquely positioned to benefit from the ongoing formalization and digital transformation of the Indian industrial economy.