India’s first couple who build separate billion-dollar startups is looking to kick off one of those franchises on public markets within this year. Ruchi Kalra, who co-founded the startup with their husband Ashish Mohapatra said that a supplier of raw materials from steel to chemicals to small businesses could go for a primary public offering in 6 months to a year.
She also said that they plan digital lending startup Oxyzo, which could float shares in about a couple of years, the entities are both ready for public markets, and at the right, the opportune time, over the 6 months to two-year period, both entities go public. The couple met each other along with several others, before setting up OfBusiness in 2016 while working for McKinsey & Co.
They expanded Oxyzo a year later, which utilizes technology to crunch data and offer to finance to businesses – filling a gap in a credit-starved country where similar businesses bend over backward to get working capital. The initiators have said that both their startups, which run from different teams, are worthwhile.
While Of Business is financed by Soft Bank Group Corp among others, Oxyzo counts Alpha Wave Global, Tiger Global Management, and Northwest Venture Partners are its backers.