InMobi IPO: SoftBank-backed Indian ad tech firm appoints JPMorgan, Jefferies for its upcoming IPO worth $1 billion

SoftBank-backed Indian ad tech firm InMobi has appointed JPMorgan, Jefferies, Kotak Mahindra Capital and Axis Capital as bankers for its upcoming IPO, targeting a raise of about $1 billion. The Bengaluru-headquartered company, which is in the process of re-domiciling from Singapore to India, is expected to seek a valuation of around $5 billion to $6 billion. The IPO, likely to launch later this week, would be a notable boost for an Indian primary market that has raised only about $5 billion year-to-date against over $20 billion in each of the prior two record-setting years.