SEBI Greenlights Kuku Technologies’ ₹3,500 Cr IPO
Markets regulator SEBI has greenlit the proposed listing of audio OTT startup Kuku Technologies months after it filed its draft…
The Securities and Exchange Board of India (SEBI) recently approved the proposed listing of audio OTT startup Kuku Technologies. Following the filing of its draft IPO documents in June, SEBI issued an observation letter on September 11, granting the company the green light to proceed with the public offering. Kuku's IPO, expected to reach a size of ₹2,500-3,500 Cr ($261-366 Mn), could potentially value the company at ₹15,000 Cr ($1.8 Bn).
The funds will be utilized for upgrading technology, AI infrastructure, content creation, and expanding to new geographical markets. Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Meena, Kuku offers audiobooks, podcasts, and original audio content through its Kuku FM brand, alongside microdrama platform Kuku TV and microlearning platform Guru.
With a content library of over 20,000 titles in seven languages, Kuku boasts more than one crore listeners and 400 million app downloads across its platforms. The startup has raised over $156 million from investors including Fundamentum Partnership, Krafton, Vertex Ventures, IFC, and 3one4 Capital. Recently, Kuku secured a $85 million Series C funding round led by Granite Asia.
The audio OTT market is projected to grow to $6.5 billion by 2033, driven by increasing smartphone penetration and affordable internet access. Competitors include Pocket FM, Flick TV, ReelSaga, Miniplix, and major OTT platforms like Amazon, JioHotstar, and Zee5.
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