The IPO process is expected to begin later this week.
InMobi is presently shifting its corporate registration from Singapore to India in preparation for the listing. These plans remain tentative and may be altered.
A successful offering from InMobi would provide a much-needed lift to India's IPO market, which has slowed in 2025 due to geopolitical uncertainties that have disrupted or postponed many equity sales. Data from Bloomberg shows that Indian IPOs have generated roughly $5 billion so far this year, a significant drop from the $20 billion-plus raised in each of the preceding two record years. Despite this, other big names such as Zepto, the National Stock Exchange of India, Jio Platforms, and Manipal Health Enterprises are still slated for public listings.
Get the market news that matters in a five-minute read with Market Briefs, our free daily newsletter
InMobi's impending IPO comes amid a broader recalibration of the Indian startup ecosystem, where companies are increasingly seeking public listings to provide exits for early investors and raise growth capital. The re-domiciling from Singapore to India positions InMobi to benefit from favorable tax and regulatory frameworks, as well as a growing base of domestic institutional investors. The company's ability to attract top-tier global and local underwriters for its offering highlights its standing as a bellwether for the Indian tech sector. With SoftBank's partial exit and founder Naveen Tewari's continued control, the IPO will test market appetite for a firm that has evolved significantly since its unicorn days.
InMobi, founded in 2007, ranked among India's earliest consumer-tech firms and once vied with Alphabet and Meta in mobile advertising.
The company's return to Indian soil reflects a growing preference among homegrown tech firms to list locally rather than overseas. With domestic institutional investors increasingly active, companies like InMobi can tap into a deep pool of capital while complying with Indian regulations. The move also simplifies tax structures and aligns with the government's efforts to retain high-growth companies within the country's financial ecosystem.
The company's ability to attract top-tier global and local underwriters for its offering highlights its standing as a bellwether for the Indian tech sector. With SoftBank's partial exit and founder Naveen Tewari's continued control, the IPO will test market appetite for a firm that has evolved significantly since its unicorn days.
SoftBank recently offloaded a significant part of its holding in InMobi through a buyback by the company worth around $250 million. The Japanese conglomerate retains a minor interest in the business. Naveen Tewari, a Harvard graduate who founded InMobi, serves as its CEO and is the largest stakeholder, owning approximately 40% of the company.
The IPO would mark a milestone for the Indian tech ecosystem, which has seen a slowdown in public listings amid global uncertainty. InMobi's decision to re-domicile to India underscores the country's push to attract high-growth companies to list locally, offering tax advantages and access to a deep pool of domestic capital.
Join Market Briefs, our free daily newsletter, for a quick daily rundown of the markets
