Overview
- Multiple outlets reported on Thursday that Kuku Technologies has confidentially filed a draft red herring prospectus with SEBI to begin an initial public offering process.
- The company is seeking to raise between Rs 2,500 crore and Rs 3,500 crore and is targeting a valuation of up to Rs 15,000 crore through a mix of a fresh share issue and an offer-for-sale by existing investors.
- Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital have been appointed as lead managers for the proposed IPO, which sources say is likely to be launched later in the financial year.
- Kuku reported a sharp revenue jump to about Rs 1,400 crore in FY26 from roughly Rs 240 crore the prior year and said it was close to operational breakeven, a performance that underlies its push to list.
- The company plans to use fresh proceeds to scale AI and technology for faster content creation and recommendations, boost content production and expand into markets including the United States while existing backers and a celebrity investor could use the OFS for secondary liquidity.