The startup is targeting a valuation of up to ₹15,000 Cr (about $1.8 Bn) for the public listing
The fresh issue component is likely to be utilised toward improving its technology and AI infrastructure, content production, and geographic expansion
Founded in 2018, Kuku operates vernacular audio and short-video apps under Kuku FM and Kuku TV brands, respectively
Audio OTT startup Kuku has filed its DRHP through the confidential route to raise up to ₹2,500 Cr – ₹3,500 Cr (about $261 Mn to $366 Mn) through its IPO. The startup is targeting a valuation of up to ₹15,000 Cr (about $1.8 Bn) for the public listing, sources told Inc42.
The IPO will consist of a fresh issue of shares and an offer-for-sale component, with the fresh funds likely to be utilised toward improving its technology and AI infrastructure, content production, and geographic expansion.
The startup reported a revenue of ₹1,4000 Cr in FY26, up 5.8X from ₹240 Cr in the previous fiscal year, the sources said, adding that it was close to breakeven in the last fiscal year.
Kuku declined to comment on Inc42’s queries on the development.
Earlier, the startup onboarded Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital as the lead managers for the IPO.
Founded in 2018, Kuku FM operates vernacular audio and short-video apps under Kuku FM and Kuku TV brands, respectively. It has raised $156 Mn to date from the likes of Fundamentum Partnership, Krafton, Vertex Ventures, IFC, 3one4 Capital, among others.
It recently onboarded former Indian cricket team captain Mahendra Singh Dhoni as an investor as well as the brand ambassador for Kuku TV.
(The story will be updated shortly)
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