Market regulator SEBI has given the green light to Kuku Technologies, a digital audio and video content platform, to proceed with its IPO plans, months after the company filed its draft IPO documents confidentially.
On September 11, Friday, SEBI reportedly issued its observation letter for Kuku’s offer documents. SEBI’s observations are a key regulatory requirement for companies and market entities seeking to launch public issues, including initial public offerings (IPOs) and new fund offerings (NFOs).
The approval comes at a time when investor appetite for short-form entertainment platforms is rising. Kuku filed its confidential DRHP with SEBI in June. Mint was the first to report in June that the company was seeking to raise between ₹2,500 crore and ₹3,500 crore, targeting a valuation of up to ₹15,000 crore ($1.8 billion).
The proposed IPO will comprise both a fresh issue of shares and an offer for sale. Proceeds from the primary issue will be used to invest in technology and AI infrastructure, content production, and geographic expansion.
Kuku is set to become one of the first major public-market tests of India’s micro-drama thesis, a category that has seen explosive growth over the past year as audiences increasingly consume bite-sized, cliffhanger-led content on smartphones.
Mint reported in April that Kuku’s competitor in the segment, Tencent-backed audio platform Pocket FM, had revived plans to raise fresh capital, targeting $100 million-$120 million at a valuation of $1.5 billion-$2 billion.
Founded in 2018 by IIT alumni Bisu, Vinod Kumar, and Vikas Goyal, Kuku has raised more than $150 million from investors, including Fundamentum Partnership, Krafton, Vertex Ventures, Granite Asia, IFC, Paramark Ventures, India Quotient, and 3one4 Capital. Its most recent $85 million Series C funding round, in October 2025, was led by Granite Asia.
About Kuku Technologies
Kuku Technologies Limited (formerly Kuku Technologies Private Limited and Mebigo Labs Private Limited), provides audiobooks, podcasts, stories, courses, and educational content in multiple Indian languages through its mobile application and digital platforms.
Across its portfolio, which also includes edutainment app Guru, Kuku has more than 10 million active paying subscribers and over 400 million cumulative downloads.
The company has built a content library exceeding 60,000 hours across multiple Indian languages and has begun laying the groundwork for international expansion, including in the US.
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