Mebigo Labs Hires Bankers for Planned $200 Million IPO

Mebigo Labs, the Mumbai-based company that operates audio platform Kuku FM, has appointed Kotak Mahindra Capital, Axis Bank and Morgan Stanley’s India unit to manage a proposed initial public offering (IPO). The issue is expected to raise up to $200 million, according to The Economic Times. 

Offer Details to be Decided 

The company is still discussing the structure of the IPO. Decisions on the final issue size, valuation and launch timeline have not been taken. Mebigo Labs has not issued any formal statements on the proposed listing. 

Listing Amid Active Primary Markets 

The planned IPO comes at a time when India’s primary markets have seen increased activity. A number of consumer-facing and technology companies have either listed recently or are preparing to approach the markets, supported by stable institutional demand. 

Likely Use of Proceeds 

Funds raised through the offering are expected to be used to expand Mebigo Labs’ content library and increase its focus on regional-language content.  

Audio platforms in India have been investing in new formats and languages as competition for users has increased. 

Company and Platform Background 

Mebigo Labs was founded in 2018 by Lal Chand Bisu, Vikas Goyal and Vinod Kumar Meena. Its main product, Kuku FM, offers audiobooks, stories and summaries across several Indian languages, with a focus on users outside English-speaking markets. 

Kuku FM has seen growth in Tier II and Tier III cities, where audio consumption has increased alongside wider smartphone usage and affordable mobile data. The platform’s content is largely aimed at regional audiences across multiple genres. 

Subscriber Base 

The company has reported more than 10 million paying subscribers on its platform. Paid subscriptions form a central part of its revenue model, at a time when many digital content platforms continue to rely heavily on advertising. 

In October, Mebigo Labs raised $85 million in a funding round led by Granite Asia Capital. Other investors in the round included Vertex Growth Fund, Krafton, IFC, Paramark Ventures, Tribe Capital India and Bitkraft Ventures. 

Read More: Upcoming IPO: Renny Strips Filed DRHP with SEBI for ₹300 Crore IPO! 

Conclusion 

With bankers now appointed, Mebigo Labs has taken a formal step towards a potential public listing. The IPO remains under discussion, with further clarity expected once decisions on structure and timing are finalised. 

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