Mohalla Tech plans $400M IPO

ShareChat, the parent company of social network ShareChat, short-video platform Moj, and micro-drama app QuickTV, is planning an Initial Public Offering (IPO) next year to raise up to $400 million. The company achieved operational profitability in the first quarter of the fiscal year starting April 2026, marking a significant turnaround after a period of cost-cutting and layoffs. Annual revenue has surpassed 10 billion rupees ($105 million) and is growing at over 30%, with an annualized run rate of up to 14 billion rupees. A key driver of this recovery is the booming micro-drama segment, especially through QuickTV, which serves about 65 million monthly viewers. ShareChat is also investing in generative AI to reduce content production costs and expand operating margins by 5-7% over the next two years. The company, backed by investors like Lightspeed Venture Partners and Apollo Global Management, competes with global players like Meta Platforms in India by focusing on regional language content.