Oxyzo Raises INR 100 Cr via Secured NCDs, Sets Sight on Public Listing Oxyzo empowers Indian SMEs with tailored financial solutions, offering cash flow-based lending and supply chain financing to drive business growth and operational efficiency.
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Oxyzo Financial Services Limited, the lending arm of the OfBusiness group, has raised INR 100 crore through non-convertible debentures (NCDs), as per a recent regulatory filing. The allotment, made on February 18, 2025, saw AK Capital Finance Limited subscribe to 1,00,000 debentures, each priced at INR 10,000.
The two-year bonds, maturing on February 18, 2027, carry an annual coupon rate of 9.75% and are secured by collateral worth 110% of the outstanding principal. This structured debt issuance aligns with Oxyzo's expertise in supply chain financing, catering to businesses seeking working capital solutions.
Founded as a private entity before transitioning to a public limited company, Oxyzo has grown into a major structured credit provider. Its parent firm, OfBusiness, a SoftBank-backed B2B unicorn, is reportedly in early discussions with investment bankers, including Kotak Investment Banking, for a USD 500 million IPO targeted for August 2026.
The upcoming IPO is expected to feature both primary and secondary share offerings. Oxyzo, in which OfBusiness holds over 70% ownership, may also explore a public listing at a later stage.
OfBusiness, founded in 2015, has emerged as one of India's most profitable unicorns, reporting a net profit of INR 463.3 crore in FY23, with revenues doubling to INR 15,300 crore. Oxyzo, a unicorn since 2022, recorded INR 200 crore profit on INR 570 crore revenue in FY23.
