India’s first unicorn startup, InMobi, has reportedly begun preparations for a big home itemizing, because the adtech firm strains up advisers for an preliminary public providing (IPO) anticipated to be sized at greater than $500 million, based on a Moneycontrol report.

After finishing latest pitches, InMobi is in superior discussions with as many as eight funding banks, together with Kotak Mahindra Capital, Axis Capital, Jefferies, JP Morgan, Motilal Oswal, IIFL Capital, BofA Securities and UBS.

The report stated that the corporate is concentrating on an IPO valuation within the vary of $4 billion to $5 billion. The ultimate syndicate might nonetheless change, and the proposed problem measurement and valuation haven’t been finalised and should fluctuate relying on market circumstances.

Forward of the itemizing, InMobi plans to lift a pre-IPO spherical. Its reverse flip, involving redomiciling the corporate from Singapore to India, is at the moment below means. The founders now maintain a majority stake following a buyback from investor SoftBank. Different traders embrace Sherpalo Ventures and Kleiner Perkins.

Based in 2007, InMobi operates a worldwide shopper know-how ecosystem powered by AI. Its enterprise engine helps cellular promoting and engagement options for greater than 30,000 manufacturers, reaching over 2 billion customers throughout 150 international locations. Its shopper enterprise is led by Look, an clever buying agent working on owned and operated machine surfaces, serving over 370 million customers and producing greater than 4,000 prompts per consumer yearly.

In September 2024, InMobi closed a $100 million debt financing from MARS Progress Capital.

The corporate grew to become India’s first unicorn in 2011 after elevating $200 million from SoftBank at a valuation of over $1 billion.