Does InMobi Plan U.S. IPO at Value of Up to $15 Billion?

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Ella Jones, Deputy Editor In Chief

Date: 19.05.2021

India’s First Unicorn, InMobi Pte, which provides mobile-advertising services globally, is planning to list in the U.S. by the end of the year, according to a person familiar with the plan, potentially the first among a slew of Indian startups targeting initial public offerings.

The tech upstart, India’s first private company to reach unicorn status with venture funding, could kick off the IPO process in a few weeks, when its board is set to meet to consider a listing, said the person, who asked not to be identified talking about a confidential matter. The offering size could be as large as $1 billion, valuing InMobi at $12 billion to $15 billion, the person said.

A successful debut could make InMobi the first of India’s unicorns to directly list in a U.S. stock exchange, highlighting the country’s shift beyond information technology and outsourcing services. The sale would be a windfall, at least on paper, for InMobi’s biggest backer SoftBank Group Corp., which owns about 40% of the company.

Among the banks in talks to work on InMobi’s listing are JPMorgan Chase & Co., Goldman Sachs Group Inc. and Citigroup Inc.

by Ella Jones | Linkedin

#News #IPO #ICO #InMoby #Wcryptn.com

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