Audiobooks and podcast platform Kuku has filed confidential draft papers for its IPO worth Rs 3,500 crore with market regulator SEBI, PTI reported, citing sources familiar with the matter. According to the news agency, famous Indian cricketer Mahendra Singh Dhoni is also among the investors in the company.

The company has deployed AI-powered infrastructure to accelerate content production and help with smart recommendations and contextual discovery.

Kuku: IPO details

As per the report, the audio app plans to raise around Rs 2,500 crore to Rs 3,500 crore through the public issue, and its offer will be handled by Kotak Mahindra Capital, Jeffries, JM Financial, and Axis Capital. The IPO, which is expected in the latter part of the year, is likely to be a book-build issue.

The multi-platform company will issue fresh equity, and existing investors will offload their shares via the offer-for-sale (OFS) route, the PTI report added.

Kuku is expected to utilise the fresh proceeds for boosting its technology and AI infrastructure, content creation, and tapping into new markets. FinancialExpress.com has not independently verified this report.

Kuku: FY26 revenue

For the financial year ended March 2026, the company’s revenue surged to over Rs 1,400 crore, jumping more than six times compared to Rs 240 crore reported in FY25.

Across its platforms, including Kuku TV and Kuku FM, the company has more than 10 million active users and has crossed over 200 million downloads, the report added.

Kuku plans to expand its presence into broader geographies, including the United States, and has raised more than $150 million from investors like Fundamentum Partnership, Krafton, Vertex Ventures, Granite Asia, International Finance Corporation (IFC), Paramark Ventures, India Quotient, and 3one4 Capital.

Famous Indian cricketer Mahendra Singh Dhoni is also among the investors in the company.

The company has deployed AI-powered infrastructure to accelerate content production and help with smart recommendations and contextual discovery.

Last year, India’s micro-drama market crossed $300 million and is expected to hit $4.5 billion by 2040, a report published by venture capital fund Lumikai said. It added that this segment is expected to hit the $1.5 billion mark by the end of 2026 due to increased consumption of bite-sized drama content.