InMobi Group, a mobile advertising platform backed by SoftBank Group Corp., is seeking a $350-million private loan ahead of its planned initial public offering in India, according to people familiar with the matter.
Part of the loan’s proceeds will fund the buyback of SoftBank and other equity holders’ shares in the company, the people said, who asked not to be identified discussing private matters. The rest of the proceeds are for capital expansion ahead of InMobi’s IPO, which includes strategic acquisitions, the people added.
Talks for the private loan is ongoing and plans could still change, the people said. A representative for InMobi declined to comment.
Demand for private debt in India has surged in recent years, partly driven by Prime Minister Narendra Modi’s infrastructure push and as new companies look to expand their operations. The country’s private credit market registered $9 billion in deal volume in the first half of 2025, a 53 per cent increase from the same period last year, according to an EY report.
India is also home to the third largest startup ecosystem in the world, registering a consistent growth of at least 12 per cent yearly, according to Startup India. The founder for Indian workspace startup Table Space, for example, raised about ₹200 crore ($22.7 million) in June from private credit to fund the purchase of a stake in the company ahead of its planned IPO.
Founded in 2007 in Mumbai and headquartered in Singapore, InMobi reached unicorn status in 2011 following investments from SoftBank, according to its website. The company’s other investors include Kleiner Perkins and Sherpalo Ventures, among others.
More stories like this are available on