The founders of OfBusiness, Ruchi Kalra, 38, and Ashish Mohapatra, 41, met while working for McKinsey & Co.
An Indian pair who became the country’s first husband and wife to develop separate billion-dollar enterprises hopes to take one of them public this year.
Ruchi Kalra, who co-founded OfBusiness with her husband Ashish Mohapatra, told Bloomberg Television on Monday that the firm, which supplies raw materials ranging from steel to chemicals to small businesses, might go public in six months to a year. She added that the couple’s second venture, digital lending firm Oxyzo, might go public in roughly two years.
“The companies are both ready for public markets and at the right, the opportune time, over the six months to two-year period, you will see both companies go public,” she said.
Kalra, 38, and Mohapatra, 41, met while working for McKinsey & Co. before co-founding OfBusiness in 2016. They spun off Oxyzo a year later, which employs technology to analyze data and give finance to businesses, filling a void in a credit-starved country where smaller enterprises struggle to secure operating cash. According to the founders, both of their firms, which operate from separate offices and teams, are profitable.
OfBusiness is funded by SoftBank Group Corp among others, while Oxyzo is backed by Alpha Wave Global, Tiger Global Management, and Norwest Venture Partners.
