OfBusiness, backed by SoftBank, is considering reviving its IPO plans in India.

According to informed sources, OFB Tech Pvt, the operator of the technology supply chain and financing platform OfBusiness, is considering restarting its initial public offering (IPO) plan, with a fundraising size of up to $800 million. The company, backed by SoftBank Group, is collaborating with Axis Capital Ltd, Morgan Stanley, JPMorgan Chase, and Citigroup to prepare for the potential listing. Related individuals, who wished to remain anonymous due to the sensitive nature of the information, stated that the company plans to submit the draft prospectus by November at the latest. OfBusiness, which attempted to go public several years ago, had to suspend its plans due to a weak market environment. The restarted offering is expected to add up to $200 million in new shares, with the remainder being sold by existing shareholders.