Nuvama-backed Ozone Overseas to raise up to ₹1,500 cr via IPO; appoints bankers

If it goes as planned, the company will file its draft papers for a listing by the end of this financial year, the people cited above said on the condition of anonymity.

Growth market

India’s home & furnishings market, valued at $34–36 billion in 2024, is witnessing a structural shift driven by rising disposable incomes, urbanization, and growing demand for branded, design-led offerings, according to a Redseer report. The market is expected to further grow at a CAGR of 11–13%, reaching $63 billion–$71 billion by 2030.

As consumers move beyond functional needs toward aesthetics, comfort, and lifestyle expression, full-stack D2C players are well-positioned to lead this transition with end-to-end integration, multi-category expansion, and omnichannel reach becoming more prevalent, the report said.

The group has a portfolio of about 4,500 products such as floor springs, patch fittings, door closures, hinges, drawer slides, shower enclosure fittings and furniture fittings, which are used in residential spaces, hospitals, government and private institutions, malls and airports.

Its revenues have grown at a CAGR of 24% for the last three years, Crisil said in a report last year. In FY25, Ozone reported a revenue of ₹560.24 crore, up from ₹522.73 crore a year ago. Its profit narrowed to ₹16.3 crore from ₹33.34 crore, as per Crisil’s note.

Priyamvada C

Priyamvada is a Mumbai-based business journalist at Mint. She writes about the public and private markets with a key focus on venture capital, private equity, M&As and private credit. Her coverage also spans startups and emerging businesses.Over the last two years, she has uncovered some of the largest deals and interviewed important decision-makers from India’s investment ecosystem. She likes to dabble across different formats like long forms and explainers. Her work has been consistently displayed on the publication's deals page, and she has also written multiple front-page stories.Prior to joining Mint in 2024, she worked out of Reuters’ Bengaluru bureau where she extensively covered the travel, transportation, and logistics industries. Across both her stints, Priyamvada has displayed rigour for breaking news and analyzing interesting data-driven trends. She holds a postgraduate diploma from the Asian College of Journalism's Bloomberg programme. In her free time, she enjoys reading books and trying out different cuisines. She is keen to delve deeper into the various sectors she covers and is always up for a chat. You can reach out to her at priyamvada.c@livemint.com.