OfBusiness has taken full ownership of Indian Design, the Bengaluru-based garment and home textile manufacturer, by acquiring the remaining 30% stake previously held by minority shareholders. The move marks a significant consolidation of OfBusiness’s apparel vertical, integrating Indian Design into its diversified platform spanning metals, chemicals, agri-processing and apparel.
Indian Design, which generates around ₹1,300 crore in annual revenue, supplies home-textile and apparel products to major global retailers such as H&M, GAP, Old Navy, Columbia, and IKEA. With OfBusiness already partnering with brands like Zara, Uniqlo, Adidas, and Skechers, the company’s apparel vertical is now estimated to reach ₹3,000 crore in revenue, with exports contributing nearly 80%.
The acquisition comes as OfBusiness prepares for a potential $1 billion IPO, expected to include a mix of fresh issue shares and an offer for sale. The company has already taken steps toward becoming a publicly listed entity by converting into a public corporation.
Recently, OfBusiness raised ₹100 crore ($11.7 million) in a funding round led by Cornerstone Ventures. This follows earlier capital infusions of more than $662 million, including a major $325 million round led by Alpha Wave, Tiger Global, and SoftBank, valuing the company at $5 billion.
The latest acquisition strengthens OfBusiness’s position in the global apparel supply chain and supports its broader growth strategy ahead of its planned listing.
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