Location-based services form an important use-case in emerging narrowband Internet-of-Things (NB-IoT) networks. Critical to this offering is an accurate estimation of the location without overlaying the network with additional active sensors. The massive number of devices, low power requirement, and low bandwidths restrict the sampling rates of NB-IoT receivers. In this paper, we propose a novel low-complexity approach for NB-IoT target delay estimation in cases where one-bit analog-to-digital-converters (ADCs) are employed to sample the received radar signal instead of high-resolution ADCs. This problem has potential applications in the design of inexpensive NB-IoT radar and sensing devices. We formulate the target estimation as a multivariate fractional optimization problem and solve it via Lasserre's semi-definite program relaxation. Numerical experiments suggest feasibility of the proposed approach yielding high localization accuracy with a very low number of 1-bit samples
