OfBusiness, a SoftBank-backed Indian shopping platform, has appointed five investment banks, including Axis Capital and JPMorgan, for its upcoming IPO targeting up to $1 billion in 2025. The company reported a $72.6 million after-tax profit on $2.3 billion in revenue for the fiscal year ending in March. With a valuation of around $5 billion in 2021, OfBusiness provides raw materials and exports food and apparel to major clients like Lulu and Costco.
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