Kuku, the audio content platform formerly known as Kuku FM, has confidentially filed draft papers with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) worth around Rs 3,500 crore, according to reports.
The move marks a significant step in the startup’s journey from a regional-language audio platform to one of India’s leading digital storytelling and audiobook companies. Founded in 2018, Kuku offers audiobooks, podcasts, educational content and original shows across multiple Indian languages. The confidential filing route allows companies to submit draft IPO documents to SEBI without immediately disclosing detailed financial and business information to the public. Several high-profile startups have adopted this route in recent years before launching public offerings.
Kuku’s IPO plans have been in the works for some time. Earlier reports indicated that the company had appointed investment banks including Kotak, JM Financial, Axis Capital and Jefferies to manage a potential public issue. At the time, the company was reportedly targeting a fundraising size of around Rs 3,000 crore.
Backed by investors such as Vertex Ventures, Krafton, IFC and Paramark Ventures, Kuku has raised more than Rs 156 million to date. Former Indian cricket captain MS Dhoni also joined the company’s cap table earlier this year.
The IPO filing comes as Kuku continues to scale its business. According to startup tracking data, the company reported operating revenue of Rs 242 crore in FY25, up sharply from Rs 88 crore a year earlier. However, losses also widened during the period as the company continued investing in growth and content expansion.
