Kuku FM’s $200 Million IPO: Mebigo Labs Hires Top Bankers to Lead Public Listing

Kuku FM’s parent company, Mebigo Labs, has hired leading investment banks to prepare for a 200 million dollar IPO in India, marking a major milestone for the country’s digital audio ecosystem. The Mumbai-based company has reportedly appointed Kotak Mahindra Capital, Axis Bank and Morgan Stanley’s India unit to manage the proposed share sale, which is likely to be launched on Indian stock exchanges once key regulatory steps are completed. This move signals strong intent to tap public markets and test investor appetite for subscription-led regional audio platforms in India.​

The planned IPO proceeds are expected to help Kuku FM expand its content library, strengthen its regional language offerings and invest in technology to enhance user experience. With a focus on Hindi, Marathi, Tamil and other Indian languages, Kuku FM aims to capture the fast-growing audience in Tier 2 and Tier 3 cities seeking affordable audiobooks, courses and storytelling content. The funds could also provide additional firepower for marketing, partnerships and product innovation, helping the platform compete more aggressively in India’s crowded digital entertainment and creator economy landscape.​

Founded in 2018, Kuku FM has built a subscription-driven business model and has reportedly scaled to millions of paying users, backed by multiple funding rounds from prominent investors. Its decision to pursue a 200 million dollar IPO positions it as one of the first major Indian audio platforms to attempt a public listing, potentially paving the way for other podcast and niche content startups to follow. As the IPO process moves forward, Kuku FM’s performance in the public markets will be closely watched as a key indicator of how investors value regional, knowledge-first audio platforms in India’s booming digital economy.