India, Dec. 4 -- 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.

Following the buyback, cofounders Naveen Tewari, Mohit Saxena, Abhay Singhal and Piyush Shah together hold around 60% stake in the unicorn, sources told Inc42.

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 operating company and $150 Mn will for the holding entity. The loan is secured against the cofounders' stake in the startup.

SoftBank is estimated to have received roughly...