Kuku Technologies Files Confidentially for IPO, Eyes ₹3,500 Crore Fundraise

Digital entertainment startup Kuku Technologies is reportedly making a significant move towards going public, confidentially filing draft papers for an initial public offering (IPO) as it looks to take advantage of surging investor interest in India’s digital content space.

The Bengaluru-based company plans to raise 2,500 crore to 3,500 crore through the proposed offering, a Moneycontrol report said.

The IPO could value Kuku Technologies at around Rs 15,000 crore ($1.8 billion), underscoring investor confidence in the fast-growing digital entertainment and microdrama segments.

The company is expected to have a combination of fresh equity issuance and an offer-for-sale (OFS) element. Earlier reports had said Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital have been mandating the issue.

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Rapid Growth:

The planned public offering comes amid strong business growth for Kuku, which operates digital platforms including Kuku FM, Kuku TV and Guru.

The company is said to have seen revenues jump to over ₹1,400 crore in FY26 from ₹240 crore in FY25, indicativeness of fast growth across its content operations.

Kuku, which had incurred losses in the last fiscal, mainly due to high spends on marketing and customer acquisition, is also believed to be headed towards profitability.

The company, founded in 2018, has built its ecosystem around audio storytelling, micro-learning and short-form video entertainment.

The startup said it has crossed 400 million app installs across its platforms and now has more than 10 million subscribers. It offers a library of content that includes more than 60,000 hours of programming in multiple Indian languages.

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Microdrama Momentum:

The rise of microdramas- a format that focuses on short, mobile-first episodic content for quick consumption – has been a key driver of the company’s growth.

The category is gaining traction with the younger audiences and is emerging as a distinct segment in India’s digital entertainment market.

Kuku has also invested significantly in artificial intelligence to streamline content production and improve operational efficiency.

The company is integrating AI into various stages of content creation, from ideation and scripting to production and audience engagement. Earlier this year it launched a set of AI-powered original microdramas across genres such as fantasy, science fiction and superhero stories.

Going forward, Kuku will be significantly scaling up the number of microdramas it launches per month as part of a wider content growth plan.

The company has also begun to expand beyond its core audio and short-form offerings. It has recently forayed into film production with the release of its first Hindi feature film.