InMobi Cofounders Buy Back Major Stake From SoftBank

The cofounders of adtech major InMobi have bought back around 25-30% stake from its early investor SoftBank, reducing the Japanese firm’s holding to under 8% from about 35% earlier, as the startup prepares for its public listing

Cofounders Naveen Tewari, Mohit Saxena, Abhay Singhal and Piyush Shah will now hold around 60% stake in the unicorn

This is after InMobi raised $350 Mn debt from Varde Partners, Elham Credit Partners and SeaTown Holdings for the buyback. The loan is structured in two parts – $200 Mn for the main…