Kuku Confidentially Files IPO Papers To Raise Up To ₹3,500 Cr; AI, Content Expansion In Focus

Kuku Technologies, the parent company of Kuku FM and Kuku TV, has confidentially filed draft papers with market regulator Sebi for an initial public offering (IPO), according to reports.

The company is looking to raise between ₹2,500 crore and ₹3,500 crore through the public issue and is targeting a valuation of around ₹15,000 crore.

The IPO is expected to include a mix of fresh issue of shares and an offer-for-sale (OFS) by existing investors. The final issue size and valuation could change depending on market conditions.

Inside Kuku's IPO Plan

Kuku has appointed Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital as the bankers managing the issue, according to reports.

The confidential filing comes as several new-age technology companies prepare for stock market listings. Companies such as Zetwerk have already filed draft papers, while firms including Pocket FM, Razorpay and Acko are also exploring public market debuts.

Founded in 2018 by Lal Chand Bisu, Vikas Goyal and Vinod Kumar Meena, Kuku operates audio platform Kuku FM, micro-drama platform Kuku TV, learning platform Guru and several other content-focused apps.

How Kuku Plans To Use Funds

According to The Economic Times, the company is expected to deploy fresh capital towards strengthening its technology and artificial intelligence (AI) infrastructure, content production and expansion into new markets.

Kuku has increasingly integrated AI into content creation, distribution and audience engagement. The company has also launched AI-powered micro-dramas and plans to scale content production further across genres and languages.

The startup is also looking to expand beyond India, with developed markets such as the United States among its target regions.

Revenue Growth Drives Listing Push

Moneycontrol reported that Kuku's revenue surged to more than ₹1,400 crore in FY26 from ₹240 crore in FY25. The company is also said to be close to breakeven after reporting a loss of ₹153 crore in FY25.

Kuku was last valued at around $500 million after raising $85 million in October 2025 from investors including Granite Asia, Vertex Ventures, Krafton, IFC and others. Former India captain MS Dhoni is also among its backers.

The company competes with players such as Pocket FM, ShareChat and Eloelo as demand for short-form and micro-drama content continues to grow.