InMobi interstitial ads are not getting displayed android

问题

I tried integrating InMobi interstitial ad to my android application by following the instructions mentioned here.

Below is the code I have incorporated in my activity class for displaying interstitial ads.

I get no exceptions but every time I run the code, the callback method onInterstitialFailed gets called displaying the message "The ad request was successful but no ad was found".

Looking forward to responses/solutions

interstitial = new IMInterstitial(this,
                "I mention the property_id");
        interstitial.loadInterstitial();
interstitial.setIMInterstitialListener(new IMInterstitialListener() {

            @Override
            public void onShowInterstitialScreen(IMInterstitial arg0) {
                Log.i("onShowInterstitialScreen", "inside");
            }

            @Override
            public void onLeaveApplication(IMInterstitial arg0) {
                Log.i("onLeaveApplication", "inside");
            }

            @Override
            public void onDismissInterstitialScreen(IMInterstitial arg0) {
                Log.i("onDismissInterstitialScreen", "inside");
            }

            @Override
            public void onInterstitialLoaded(IMInterstitial arg0) {

                if (interstitial.getState() == IMInterstitial.State.READY) {
                    Log.i("Inside Interstitial Ready state", "Ready");
                    interstitial.loadInterstitial();
                    interstitial.show();
                }

            }

            @Override
            public void onInterstitialInteraction(IMInterstitial interstitial,
                    Map<String, String> params) {
                Log.i("onInterstitialInteraction", "inside");
            }

            @Override
            public void onInterstitialFailed(IMInterstitial arg0,
                    IMErrorCode arg1) {
                Log.i("onInterstialFailed", "Failed " + arg1);
            }
        });