Mumbai: Kuku Technologies Ltd, the company behind popular vernacular audio platform Kuku FM and short-video app Kuku TV, has confidentially filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).
According to sources, the company plans to raise between Rs 2,500 crore and Rs 3,500 crore through the public issue. The IPO could value the company at up to Rs 15,000 crore, or around USD 1.8 billion.
The offering is expected to hit the market later in the current financial year.
Mix of Fresh Shares and OFS
The proposed IPO will include a combination of fresh issue of shares and an offer-for-sale (OFS) by existing investors.
Money raised through the fresh issue will be used to strengthen technology and artificial intelligence (AI) capabilities. The company also plans to invest in content creation and expand into new international markets.
Kuku Technologies declined to comment on the IPO plans.
Strong Revenue Growth
The company reported impressive growth during FY26. Revenue jumped nearly seven times to over Rs 1,400 crore, compared to about Rs 240 crore in the previous financial year.
Sources said the company is also close to achieving operational break-even.
Kuku has increasingly used AI tools to speed up content production, improve content recommendations for users and lower customer acquisition costs.
Building a Digital Content Ecosystem
Founded in 2018 by IIT alumni Lal Chand Bisu, Vinod Kumar and Vikas Goyal, Kuku has expanded beyond audio content into entertainment and educational content.
Its latest platform, Kuku TV, launched in late 2024 and focuses on micro dramas. These are short mobile-first video series with episodes lasting two to three minutes.
The platform currently releases more than 150 original shows every month and has crossed 200 million downloads.
Large User Base and Global Ambitions
Across Kuku FM, Kuku TV and Guru, the company serves over 10 million active paying subscribers and has recorded more than 400 million cumulative downloads.
Its content library includes over 60,000 hours of programming in seven to eight Indian languages.
Kuku is also preparing to enter overseas markets, including the United States. The company has raised more than USD 150 million from investors such as Krafton, International Finance Corporation and others. Former Indian cricket captain MS Dhoni is also an investor.
The IPO is being managed by Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital.
