Kuku Confidentially Files IPO Papers, Eyes Valuation of Nearly Rs 15,000 Crore
Kuku has confidentially filed IPO papers, reportedly targeting a valuation of nearly ₹15,000 crore as it looks to expand its AI capabilities, content ecosystem, and global presence.
Audio and microdrama platform Kuku has confidentially filed draft papers for its proposed initial public offering (IPO), aiming to raise between ₹2,500 crore and ₹3,500 crore at a targeted valuation of nearly ₹15,000 crore, according to reports.
The company is expected to use the proceeds from the fresh issue to strengthen its AI and technology capabilities, expand content production, and support its international growth ambitions.
Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Meena, Kuku operates vernacular content platforms Kuku FM and Kuku TV, along with microlearning platform Guru. The company focuses on regional and mobile-first content across audio entertainment, short-form storytelling, and educational content categories.
Kuku had earlier signaled its public market ambitions after raising $85 million in a Series C funding round led by Granite Asia in 2025, which valued the company at around $500 million. Investment banks Kotak Mahindra Capital, Jefferies, JM Financial, and Axis Capital have reportedly been appointed as lead managers for the offering.
According to reports, the company recorded revenue of nearly ₹1,400 crore in FY26, marking significant growth from around ₹240 crore in the previous fiscal year, while also moving closer to breakeven profitability.
The platform offers audiobooks, podcasts, microdramas, and educational content across multiple Indian languages. Kuku claims to have crossed 400 million app downloads and over one crore listeners and creators across its ecosystem.
The company has also developed an in-house GenAI studio that supports multilingual translations, ad creation, sentiment analysis, and AI-assisted content production workflows. Its short-form entertainment platform Kuku TV currently releases nearly 150 shows every month using AI-driven production systems.
Backed by investors including Fundamentum Partnership, Krafton, Vertex Ventures, IFC, and 3one4 Capital, Kuku has raised approximately $156 million to date. The company recently onboarded former Indian cricket captain MS Dhoni as both an investor and brand ambassador for Kuku TV.
The IPO move comes as India’s microdrama and vernacular entertainment segment witnesses rapid growth, with platforms such as Pocket FM, Flick TV, ReelSaga, and Miniplix competing to capture rising demand for regional, mobile-first entertainment content.