Indian B2B marketplace OfBusiness has transitioned into a public company ahead of its planned IPO.

Now rebranded as OFB Tech Limited, the company aims to list in the second half of 2025 with a valuation target of US$6 billion to US$9 billion.

It plans to raise US$750 million to US$1 billion, with US$200 million from new stock issuance and the rest from an offer for sale.

Founded in 2016, OfBusiness provides raw material procurement and financing services to SMEs in manufacturing and infrastructure.

The company last raised $US325 million in 2021 at a US$5 billion valuation and has secured US$878 million in total funding.

OfBusiness has appointed five banks, including Morgan Stanley and JPMorgan, to manage the IPO as it reports a 30% net profit growth in FY 2023-24.