OfBusiness Set To File DRHP For $800 Mn IPO By Mid-November
OfBusiness plans to file its Draft Red Herring Prospectus (DRHP) for an $800 million initial public offering (IPO) by mid-November, aiming for a valuation of $5-6 billion. The IPO will include a fresh issue of up to $260 million, with the remainder from existing investors' shares, as the company seeks to capitalize on improving market conditions. This renewed push follows a previous shelved listing and comes as OfBusiness reports a 21% year-on-year increase in net profit for FY26, signaling stronger financial performance.