JPMorgan Chase (JPM) and Jefferies Financial Group (JEF) were among four banks chosen by InMobi to raise about $1 billion as part of an initial public offering process due to begin later this week, Bloomberg reported Tuesday, citing people familiar with the matter.

InMobi, which is seeking a $5 billion to $6 billion valuation, also selected Kotak Mahindra Capital and Axis Capital for the IPO process, the report said.

The companies didn't immediately reply to requests for comment from MT Newswires.

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