InMobi has secured naming rights to Bengaluru's Ibbaluru Metro Station for 30 years in a ₹65 crore deal. The station will be called InMobi Ibbaluru Metro Station.
Under the partnership, the adtech unicorn will support Namma Metro across the 30-year concession. In a statement, the company said it was founded in Bengaluru and has grown with the city over 18 years. It described the deal as a way of giving back to the city that gave it its start.
The money will go to Bengaluru Metro Rail Corporation Limited (BMRCL) as non-fare revenue, a category that covers income from station branding and advertising alongside passenger fares. BMRCL said the arrangement would support metro infrastructure development and encourage more corporate participation in the city's public transport ecosystem.
The deal comes as InMobi works towards a public listing in India, a plan first reported more than two years ago. In July 2024, the company was said to be targeting a 2025 IPO at a valuation of around $10 billion. That timeline has slipped, and InMobi has yet to file its draft red herring prospectus.
The cap table has shifted in the meantime. In December 2025, the cofounders bought back roughly 25-30% from SoftBank, cutting its holding from about 35% to under 8%, backed by $350 million in debt from Varde Partners, Elham Credit Partners and SeaTown Holdings. In 2026, True North was reported to have picked up a 2-3% stake in a secondary deal worth around $50-60 million, which also gave some early investors partial exits.
InMobi has appointed JPMorgan Chase, Jefferies, Kotak Mahindra Capital and Axis Capital as merchant bankers for the IPO. Earlier estimates put the issue at around $1 billion, though valuation estimates have since varied. In May 2026, it acquired San Francisco-based MobileAction, a mobile app marketing and analytics platform.
