India, Aug. 5 -- B2B ecommerce unicorn OfBusiness is looking to revive its IPO plans amid improvement in equities market condition. Sources told Inc42 that the SoftBank-backed startup will be looking to file for an IPO within the month of November.

The proposed $800 Mn IPO could comprise a fresh issue of up to $260 Mn, while the remaining shares are expected to be offered for sale by existing investors. The startup will be targeting a valuation in the range of $5-6 Bn, sources shared on the condition of anonymity.

The development was first reported by Bloomberg, which said OfBusiness has brought on board Axis Capital, Morgan Stanley, JPMorgan and Citigroup to advise on the proposed listing.

OfBusiness has been working on firming up its...