Kuku FM Secures SEBI Approval for ₹3,500 Cr IPO
Indian audio streaming platform Kuku FM has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO). The offering is anticipated to be valued at up to ₹3,500 crore.
Indian audio streaming startup Kuku FM has received the go-ahead from the Securities and Exchange Board of India (SEBI) for its planned Initial Public Offering (IPO). The regulator issued its observation letter, signaling approval, after the company filed its draft IPO documents confidentially in June.
The IPO is expected to be in the range of ₹2,500-3,500 crore (approximately $261-366 million), potentially valuing the company at ₹15,000 crore (around $1.8 billion). The offering will comprise both a fresh issue of shares and an offer-for-sale component.
Kuku FM intends to utilize the capital raised to upgrade its technology and AI infrastructure, boost content production, and facilitate geographic expansion. Founded in 2018, the company offers audiobooks, podcasts, and original audio shows under its Kuku FM brand, reporting over 1 crore listeners and creators on its platform.
The company operates in a growing market for audio content and microdramas, facing competition from players like Pocket FM and major streaming services. The funds raised will support Kuku FM's efforts to scale its operations and content offerings.