Acquisition · Commerce & Consumer Brands

OfBusiness buys out Indian Design fully

By Startup Enthusiast · 6 December 2025

What they do

OfBusiness is a B2B platform for raw materials procurement across metals, chemicals, apparel and food

It completed a 100% buyout of Indian Design, a Bengaluru-based garment and home textile maker, by acquiring the remaining 30% stake

The consolidation of commerce units comes ahead of a planned $1 billion IPO in the next fiscal year

OfBusiness has completed a 100% buyout of Indian Design by acquiring the remaining 30% stake.
Indian Design is a Bengaluru-based garment and home textile manufacturer with annual revenue of ₹1,300 crore.
It supplies to global brands including H&M, GAP, Old Navy, Columbia and IKEA.
OfBusiness's apparel vertical works with Zara, Abercrombie & Fitch, Michael Kors, Uniqlo, Adidas and Skechers.
The apparel vertical generates ~₹3,000 crore in revenue, with ~80% coming from exports.
OfBusiness is consolidating its commerce units — Metals, Apparels, Chemicals and Agri Processing — ahead of a planned IPO.
The company is merging key commerce subsidiaries into the holding company via an NCLT-approved process for a unified structure.

OfBusiness Group posted a consolidated revenue of ₹22,241 crore and a PAT of ₹597 crore in FY25.
The group has a net worth of ₹9,400 crore and cash reserves of over ₹2,500 crore.
Its lending arm Oxyzo has an asset base of ₹9,200 crore with NPAs (non-performing assets, or loans that are not being repaid) of just 1.1% as of March 2025.
The company is targeting a $1 billion IPO in FY26, which will include a fresh issue and an Offer for Sale (OFS).

OfBusiness is a B2B raw material fulfilment platform founded in 2015 and based in Gurugram.
It operates in categories: Metals, Chemicals, Apparel and Food Processing.
The apparel vertical has 2,600+ suppliers, 34 manufacturing units and 160+ customer brands.
The company claims 1M+ orders delivered, 1.5M+ SMEs empowered, presence in 26 states and 70+ countries.
OfBusiness is diversifying from commodity aggregation into branded manufacturing and integrated supply chains.

OfBusiness is targeting a $1 billion IPO in FY26, including a fresh issue and Offer for Sale.
Part of the IPO capital will fund a ₹3,000 crore capex to double steel capacity.
The company is merging key commerce subsidiaries into the holding company via an NCLT-approved process for a unified structure before the IPO.

Product: Marketplace platform connecting SMEs to commodities including steel, metals, chemicals, agricultural products, textiles; includes financing and supply chain services
Customers: Small and medium enterprises seeking streamlined access to commodities, financing, and logistics
How it makes money: B2B marketplace model with commission on transactions and financing services
What sets it apart: Diversified vertical portfolio including apparel exports to top global retailers; operates across 75 countries

AceVector files updated IPO papers for ₹300 crore6 December 2025 · IPO · ₹300 Cr