Z47 plans $200 mn part stake sale in IPO-bound OfBusiness: Report

Venture capital firm Z47 (formerly known as Matrix Partners India) is planning to sell part of its stake in B2B commerce platform OfBusiness, Moneycontrol reported. The move comes ahead of OfBusiness's IPO. According to a source quoted by Moneycontrol, Z47 aims to raise about $200 million in pre-IPO secondary sale. As per reports, Z47 holds 10.8% stake in OfBusiness.