InMobi has moved ahead with its initial public offering plans by appointing four banks, including JPMorgan Chase and Jefferies, to work on a share sale expected in the coming months. The Indian mobile advertising company is reportedly aiming to raise about $1 billion through the offering.
The planned deal would mark an important step for the SoftBank-backed firm as it prepares to enter the public market. Earlier reporting indicated InMobi could target a valuation of around $5 billion to $6 billion, a level that would place it in the middle tier of India’s listed technology companies.
An IPO of that size would draw attention to India’s broader tech listing pipeline, especially in digital advertising and mobile-focused businesses. It would also be closely watched as investors assess appetite for sizeable offerings from established technology companies in the market.
While the appointment of banks signals that preparations are advancing, the final fundraising amount, timing and valuation may still depend on market conditions and investor demand. For now, InMobi appears to be taking concrete steps toward what could become one of the more notable Indian tech IPOs on the horizon.
