MS Dhoni-backed Kuku files for ₹3,500cr IPO
What's the story
Kuku Technologies Ltd, which operates popular vernacular audio platform Kuku FM and short-video streaming app Kuku TV, has filed confidential draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company hopes to raise between ₹2,500 crore and ₹3,500 crore through this move. It is targeting a valuation of up to ₹15,000 crore ($1.8 billion) from the proposed public issue.
Fund allocation
Fresh issue to strengthen tech, AI infrastructure
The upcoming IPO, which is expected later this fiscal year, will include a combination of fresh share issuance and an offer-for-sale (OFS) by existing investors. The money raised from the fresh issue will be used to strengthen technology and artificial intelligence (AI) infrastructure, content creation, and expansion into new geographies.
Financial growth
Revenue jumped nearly 7-fold in FY26
Kuku Technologies' revenue has grown nearly seven-fold to over ₹1,400 crore in FY26 from about ₹240 crore in the previous fiscal year. The company is also close to achieving operational break-even. It has used AI tools to speed up content production, improve recommendations, and lower customer acquisition costs.
Business expansion
IIT alumni started Kuku in 2018
Founded in 2018 by IIT alumni Lal Chand Bisu, Vinod Kumar, and Vikas Goyal, Kuku has a diverse portfolio of audio content, microdrama entertainment, and edutainment. Its latest offering is Kuku TV which was launched in late 2024. The platform focuses on micro dramas—short-form mobile-first video series— with episodes usually lasting two to three minutes.
Content strategy
'India's micro-drama segment growing at 60% annually'
Kuku TV 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 growing at around 60% annually, driven by rising smartphone penetration and increasing consumption of short-form video content.
Subscriber base
Plans to expand into international markets
Across its platforms, including Kuku FM, Kuku TV, and Guru, the company has over 10 million active paying subscribers and more than 400 million cumulative downloads. Its content library features over 60,000 hours of programming in seven to eight Indian languages. The company also plans to expand into international markets such as the US. Earlier this year, MS Dhoni invested in Kuku and was named brand ambassador for its microdrama app, Kuku TV.