InMobi plans a major India IPO, engaging Kotak Mahindra Capital, Axis Capital, Jefferies, JP Morgan, and others for a $500 million-plus listing.

Will this be the biggest IPO of the year so far?

InMobi Prepares for Major Domestic Listing with $500 Million IPO

Global consumer technology company InMobi, India's first unicorn, is gearing up for a significant domestic listing. The company has engaged eight investment banks to advise on a proposed initial public offering (IPO) that could raise over $500 million.

Key Details:

Investment Banks: InMobi is in advanced discussions with eight top investment banks, including Kotak Mahindra Capital, Axis Capital, Jefferies, JP Morgan, Motilal Oswal, IIFL Capital, BofA Securities, and UBS.
IPO Valuation: The company is targeting an IPO valuation between $4 billion and $5 billion.
Pre-IPO Round: Before the listing, there will be a pre-IPO round, and the reverse flip (redomiciling from Singapore to India) is currently in process.
Founders' Stake: Following a buyback from investor SoftBank, the founders now hold a majority stake in the company.

The issue size and valuation of the IPO are not yet finalized and may vary depending on market conditions. InMobi's proposed syndicate may change later with the addition of newer entrants if required.