InMobi, the Bengaluru-based mobile advertising platform backed by SoftBank Group, is poised to make a significant entry into India’s public markets with an initial public offering (IPO) targeting up to $1 billion.
The company plans to engage arrangers for its Mumbai IPO, as reported by Bloomberg, and aims to file its draft prospectus with regulators within the current year, with the submission expected in the second half of 2025.
Reports suggest InMobi is seeking a valuation of around $10 billion for its market debut, a marked increase from its $1.5 billion valuation in 2014.
A pivotal factor supporting this IPO is InMobi’s strategic decision to relocate its corporate headquarters from Singapore back to India. The company operates a global mobile advertising business and holds a majority stake in Glance, an AI-powered lock screen content platform.
The IPO will reflect the financial and growth prospects of both its core advertising operations and its investment in Glance.
Robust Indian IPO landscape
Recent financial maneuvres include raising $100 million in conventional debt financing in September 2024, intended to advance InMobi’s artificial intelligence initiatives and potential acquisitions in this domain.
The company’s heavy investment in generative AI aims to enhance its advertising solutions and expand AI commerce platforms, underscoring its commitment to innovation.
InMobi’s decision aligns with a broader trend of Indian tech startups choosing domestic markets for public listings. The robust Indian IPO landscape, having raised over $7 billion so far this year and building upon a record $21 billion in the previous year, offers a conducive environment for InMobi’s ambitious public market venture.
The move not only signifies confidence in India’s capital markets but also highlights the growing prominence of AI-driven tech enterprises emerging from the region.
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