Kuku Technologies IPO: Audio book platform files confidential papers with SEBI for up to ₹3,500 crore issue

Kuku Technologies Ltd, an entertainment and media company behind audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with market regulator Securities and Exchange Board of India (SEBI) to raise up to ₹3,500 crore via its initial public offering (IPO).

The initial share sale consists a fresh issue of shares as well as an offer-for-sale (OFS) component by existing investors.

The money generated will be utilised for boosting technology and artificial intelligence infrastructure, content creation and growing into new geographies.

Kuku Technologies financials

The company's revenue from operations surged multifold to ₹1,400 crore in the financial year 2025-26 from ₹240 crore in FY25. The firm 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% 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 firm has more than 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.

In October last year, the company had mobilised $85 million in a funding round led by Granite Asia. It also saw participation from Krafton, Vertex Growth Fund, Paramark, IFC, Bitkraft and Tribe Capital India.

Jefferies, JM Financial, Kotak Mahindra Capital and Axis Capital are the issue's book-running lead managers.