Audio OTT startup Kuku Technologies has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its proposed initial public offering, months after filing its draft IPO papers confidentially.
SEBI issued its observation letter for Kuku’s offer documents on September 11, giving the company regulatory clearance to move ahead with the public issue.
Kuku had confidentially filed its Draft Red Herring Prospectus with SEBI in June. The proposed IPO is expected to be worth around ₹2,500 crore to ₹3,500 crore and could potentially value the company at nearly ₹15,000 crore, according to reports.
The IPO is expected to include both a fresh issue of shares and an offer-for-sale component. Kuku plans to use the funds to strengthen its technology, expand its AI infrastructure, increase content production and enter more markets.
Founded in 2018 by Lal Chand Bisu, Vikas Goyal and Vinod Meena, Kuku operates the Kuku FM audio platform, which offers audiobooks, podcasts and original audio shows. The company also runs Kuku TV, a microdrama platform, and Guru, a microlearning platform.
Kuku claims to have more than 20,000 titles across seven languages and several genres, including drama, finance and wellness. Its platforms have more than 1 crore listeners and creators, along with over 400 million app downloads across its portfolio.
The startup has raised more than $156 million from investors including Fundamentum Partnership, Krafton, Vertex Ventures, IFC and 3one4 Capital. Its latest funding came through an $85 million Series C round in October 2025, led by Granite Asia.
Earlier this year, former Indian cricket captain Mahendra Singh Dhoni joined Kuku as an investor and brand ambassador for Kuku TV.
The company operates in the growing microdrama and digital entertainment market, which has expanded with rising smartphone use and affordable internet access. The microdrama market is projected to grow from around $1.5 billion currently to $6.5 billion by 2033.
Kuku competes with platforms including Pocket FM, Flick TV, ReelSaga and Miniplix, along with larger OTT companies such as Amazon, JioHotstar and Zee5.
