New Delhi, May 2 -- Founders of InMobi and Zetwerk are separately raising debt in their personal capacity to increase their stakes in their respective companies, multiple people with knowledge of the development said.

InMobi founders led by Naveen Tewari are raising debt potentially to partially buy out early investors, the people cited above said on the condition of anonymity. This will also hike the founder group's stake in the company.

Multiple investment banks are arranging the trade for InMobi, the people cited above said.

InMobi did not respond to a request for a comment. In an interview with the Mint last September, Tewari had said that the company intends to list both InMobi and Glance. InMobi is also in the process of flipping...