Kuku Files Confidential DRHP for Around INR 3,500 Cr IPO

It is targeting a valuation of up to INR 15,000 crore (around USD 1.8 billion) when it gets listed later this financial year.

By Entrepreneur Staff | Jun 04, 2026

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

The company is planning to raise between INR 2,500 crore and INR 3,500 crore through the IPO. It is targeting a valuation of up to INR 15,000 crore (around USD 1.8 billion) when it gets listed later this financial year. The IPO will include both new shares and an offer-for-sale (OFS) by existing investors.

The money raised from the new shares will be used to improve technology and artificial intelligence (AI) systems, increase content production, and expand into new countries.

Kuku Technologies was founded in 2018 by IIT graduates Lal Chand Bisu, Vinod Kumar, and Vikas Goyal. The company runs Kuku FM, a vernacular audio platform, Kuku TV, a short video app, and Guru, an edutainment platform.

The company has raised more than USD 150 million from investors including Fundamentum Partnership, Krafton, Vertex Ventures, Granite Asia, IFC, Paramark Ventures, India Quotient, and 3one4 Capital. Former Indian cricket captain MS Dhoni is also an investor.

As per reports, Kuku’s revenue has grown nearly seven times to over INR 1,400 crore in FY26, compared to INR 240 crore in the previous year. The company is also close to breaking even. It has used AI tools to create content faster, improve recommendations, and reduce marketing costs.

Kuku TV, launched in late 2024, is driving much of the company’s growth. It releases more than 150 microdrama shows every month and has crossed 200 million downloads. These short shows, usually two to three minutes long, are becoming popular among mobile users.

The company claims to have over 10 million paying users, 400 million downloads across apps, and more than 60,000 hours of content in many Indian languages. It is also looking to grow in international markets, including the US.

Kotak Mahindra Capital, Jefferies, JM Financial, and Axis Capital are managing the IPO process.

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

The money raised from the new shares will be used to improve technology and artificial intelligence (AI) systems, increase content production, and expand into new countries.