Indian ad-tech InMobi plans about $1B IPO amid $5-6B valuation
Indian ad-tech company InMobi, known for being the country's first unicorn, is planning to raise about $1 billion through an IPO soon.
They've brought on some major global banks, JPMorgan, Jefferies, Kotak Mahindra, and Axis Capital, to help make it happen.
If all goes as planned, InMobi could be valued between $5 billion and $6 billion.
InMobi plans HQ move to India
InMobi is moving its headquarters from Singapore back to India as part of the IPO preparations (though that could still change).
The company started in 2007 and got an early boost from SoftBank, which recently sold part of its stake for $250 million. CEO Naveen Tewari still holds a hefty 40% share.
While the Indian IPO market has been shaky lately due to global uncertainties, InMobi seems ready to take its shot.