Indian mobile advertising platform InMobi has appointed JPMorgan Chase, Jefferies, Kotak Mahindra Capital, and Axis Capital as bookrunners for its initial public offering, which is valued at approximately $1 billion.
The appointment marks a significant step forward for the SoftBank-backed company, which is preparing to hit the primary market in the coming months.
The deal underscores a broader thaw in India’s IPO market, which has shown signs of renewed activity after a period of caution.
Investment bankers are currently preparing roadshows for at least five to six private equity-backed companies, indicating that institutional appetite for new listings is returning.
This wave of activity follows recent milestones such as the listing of SBI Funds Management, which helped restore momentum to the sector.
For JPMorgan and Jefferies, the mandate reinforces their growing footprint in Asian capital markets, particularly in the technology and digital advertising sectors.