InMobi taps banks for $1 billion IPO as India’s original unicorn eyes public markets

InMobi, the mobile advertising platform that became India’s first unicorn, has appointed banks to manage an IPO expected to raise around $1 billion. The listing would value the company somewhere between $4 billion and $6 billion.

The company has been in advanced discussions with as many as eight investment banks to facilitate the offering, which is expected to land between mid-2025 and early 2026 depending on market conditions.

What InMobi is doing to get IPO-ready

InMobi is undergoing a full redomiciliation from Singapore to India, a structural move that positions it to list on Indian exchanges rather than abroad.

The founders have also recently bought back stakes from SoftBank, consolidating majority ownership ahead of the public offering.

InMobi has also completed a pre-IPO funding round as part of its preparatory efforts.

The business behind the ticker

InMobi operates a mobile advertising technology platform that serves over 30,000 brands and reaches more than 2 billion users globally.

Founded in 2007 in Bangalore, InMobi earned its unicorn status in 2014 after a $200 million investment from SoftBank.

The company has since expanded into consumer technology through its subsidiary Glance, which delivers content to smartphone lock screens and has partnerships with major device manufacturers.

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