Mebigo Labs IPO: Mebigo Labs Pvt. Ltd., the company that runs India’s famous audio platform Kuku FM, is preparing to launch its IPO. The company has hired banks for this. About Rs 200 million i.e. around Rs 1800 can be raised through this IPO. The Mumbai-based company has appointed the Indian units of Kotak Mahindra Capital Co, Axis Bank Ltd and Morgan Stanley to manage the share sale, said an ET report quoting people familiar with the matter.
According to an Economic Times report, the funds raised from this offering are expected to help expand Mebigo’s content library and improve its content offering in regional languages. The report said that talks are still going on and other things including the size of the IPO may still change.
IPO of the company running Kuku FM
Mebigo Labs Pvt Ltd, the company that runs Kuku FM, is planning to list its shares on Dalal Street. According to an Economic Times report, Mebigo Labs has hired banks for its proposed IPO. According to the report, Mebigo Labs has appointed Kotak Mahindra Capital Company, Axis Bank Limited and the Indian unit of Morgan Stanley to manage the issue.
Citing people close to the matter, the ET report said that Mebigo Labs could raise up to $200 million (about Rs 1,800 crore).
The company can use the funds from this issue to expand its content library and improve its offering in regional languages. Mabigo and the three banks did not respond to questions on this development.
What is the company’s profile?
Mumbai headquartered company Mebigo Labs runs audio content platform Kuku FM. According to the website, this company was founded in 2018 by Lal Chand Bisu, Vikas Goyal and Vinod Kumar Meena. Kuku FM is a leading vernacular audio platform offering audiobooks, stories, summaries, courses and podcasts in multiple languages. According to the company’s website, it has more than 1 crore paid subscribers.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
