Kuku Technologies files confidential DRHP for Rs 3,500 Cr IPO

Kuku Technologies Ltd, which operates vernacular audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with Sebi for an IPO, according to sources.

The company is planning to raise between Rs 2,500 and Rs 3,500 crore and is targeting a valuation of up to Rs 15,000 crore ($1.8 billion) through the proposed public issue, people familiar with the development said on Thursday.

The initial public offering (IPO), expected in the later part of this financial year, will comprise a mix of fresh issue of shares and an offer-for-sale (OFS) by existing investors.

Proceeds from the fresh issue will be utilised for strengthening technology and AI infrastructure, content creation and expansion into new geographies.

When contacted, Kuku Technologies declined to comment on the proposed offering.

Kuku's revenue surged nearly seven-fold to more than Rs 1,400 crore in FY26 from about Rs 240 crore in the previous fiscal, while the company remained close to achieving operational break-even.

The company has leveraged artificial intelligence tools to accelerate content production, improve content recommendations and reduce customer acquisition costs.

Founded in 2018 by IIT alumni Lal Chand Bisu, Vinod Kumar and Vikas Goyal, Kuku has built a portfolio spanning audio content, microdrama entertainment and edutainment.

Its latest offering, Kuku TV, launched in late 2024, focuses on micro dramas -- short-form mobile-first video series with episodes typically lasting two to three minutes.

The platform is currently releasing over 150 original shows every month and has crossed 200 million downloads.

Industry estimates suggest that India's Hindi and vernacular micro-drama segment is expanding at around 60 per cent annually, driven by rising smartphone penetration and increasing consumption of short-form video content.

Across its platforms, including Kuku FM, Kuku TV and Guru, the company has over 10 million active paying subscribers and more than 400 million cumulative downloads. Its content library comprises over 60,000 hours of programming across seven to eight Indian languages.

The company has also initiated plans to expand into overseas markets, including the United States.