Indian Design Acquisition by OfBusiness

Indian Design, the textile and garment manufacturer based in Bengaluru, is now fully owned by OfBusiness following the purchase of the remaining 30% share previously held by other parties. This strategic acquisition strengthens OfBusiness’s apparel sector by integrating Indian Design into its extensive platform, which also includes metals, chemicals, agri-processing, and apparel.

Revenue Generation of Indian Design

Indian Design reportedly achieves annual revenues of approximately Rs 1,300 crore. The company provides a variety of apparel and home-textile items to renowned global brands, including H&M, GAP, Old Navy, Columbia, and IKEA.

Apparel Sector Expansion

With the inclusion of Indian Design, OfBusiness’s apparel vertical is now estimated to generate around Rs 3,000 crore in revenue, with a substantial 80% of its earnings derived from exports. OfBusiness further extends its reach through existing collaborations with brands like Zara, Uniqlo, Adidas, and Skechers.

IPO Plans and Funding

OfBusiness is reportedly pursuing an IPO valued at up to $1 billion, composed of a combination of fresh issue shares and an offer for sale (OFS). The company is making significant progress toward becoming a public entity. Recently, it secured Rs 100 crore (approximately $11.7 million) in funding, led by Cornerstone Ventures. Before this, OfBusiness had accumulated over $662 million in funding rounds, including a significant $325 million investment led by Alpha Wave, Tiger Global, and SoftBank, achieving a valuation of $5 billion.