Kuku Technologies has filed a confidential DRHP with SEBI to raise ₹2,500–₹3,500 crore via IPO, targeting a ₹15,000 crore valuation. Revenue grew 7x to ₹1,400 crore in FY26.
Kuku Technologies, the company behind Kuku FM and Kuku TV, has filed a confidential DRHP with SEBI. The startup is targeting a ₹15,000 crore valuation as it prepares for its stock market debut later this fiscal year.
Kuku Technologies has officially knocked on SEBI's door. The Bengaluru-based company behind Kuku FM and Kuku TV has confidentially filed its Draft Red Herring Prospectus with the markets regulator, according to sources familiar with the matter.
The plan is to raise between ₹2,500 crore and ₹3,500 crore through a mix of fresh issue and offer-for-sale, with the listing expected sometime in FY27. At that size, the company is eyeing a valuation of up to ₹15,000 crore about $1.8 billion.
Money raised from the fresh issue will go toward AI and technology infrastructure, content production, and expansion into new markets, including overseas.
The Company Behind the Numbers
Founded in 2018 by IIT alumni Lal Chand Bisu, Vinod Kumar, and Vikas Goyal, Kuku built its business on a simple premise give Indians great content in their own language. Today, that bet has paid off handsomely. The company runs three platforms Kuku FM, Kuku TV, and Guru with over 400 million cumulative downloads, 10 million paying subscribers, and a content library of 60,000+ hours across multiple Indian languages.
Revenue tells an even sharper story. Kuku clocked over ₹1,400 crore in FY26, up from just ₹240 crore the year before nearly seven times growth in a single year. The company is also said to be close to operational breakeven.
Kuku TV, launched in late 2024, has been a major growth driver. The platform releases 150+ original micro-drama shows every month and has already crossed 200 million downloads.
Who's Backing Them
Kuku has raised over $150 million to date from investors including Fundamentum, Krafton, IFC, Vertex Ventures, and 3one4 Capital. MS Dhoni is also on the cap table. Kotak Mahindra Capital, Jefferies, JM Financial, and Axis Capital are managing the IPO.