SoftBank-Backed InMobi Is Said to Aim for $1 Billion India IPO

InMobi Pte, a mobile advertising platform backed by SoftBank Group Corp., aims to raise as much as $1 billion in an initial public offering in India, according to people familiar with the matter.

The company plans to hire arrangers for an IPO in Mumbai and file an initial draft prospectus with regulators this year, the people said, asking not to be identified because the discussions are private. InMobi could seek a valuation of $5 billion to $6 billion in a share offering, they said, adding that considerations are ongoing and no final decisions have been made.

InMobi declined ...