ShareChat eyes $400 million IPO next year after turning operationally profitable

Mohalla Tech Pvt., the parent company of ShareChat, Moj and micro-drama platform QuickTV, is looking to raise as much as $400 million through an initial public offering planned for next year, Bloomberg reported.

The proposed listing comes after the Bengaluru-based social media company turned operationally profitable in the first quarter of the financial year beginning April 2026, following years of cost cuts, layoffs and efforts to improve the economics of its platforms.

“Our unit economics has now turned positive,” ShareChat chief financial officer Manohar Charan told Bloomberg News. “We will aim to list over the next four or five quarters.”

The IPO plans remain preliminary and could change, according to the report.

A public listing would mark a turnaround for ShareChat, which was among several venture-backed Indian startups forced to conserve cash after the funding boom during the Covid-19 pandemic came to an end.

The company reduced its workforce, pulled back from products that were not generating returns and reworked its business model to ensure that the revenue earned from users exceeded the cost of serving them.

ShareChat’s annual revenue has crossed Rs 1,000 crore and is currently running at an annualised rate of as much as Rs 1,400 crore, according to Bloomberg. Revenue is growing at more than 30%.

The company counts Lightspeed and Tiger Global among its investors.

A major contributor to ShareChat’s recovery has been the rapid growth of micro-dramas—short, serialised stories delivered in episodes that can run for as little as 60 seconds.

The format has emerged as one of the fastest-growing segments of India’s digital entertainment market. Venture capital firm Lumikai expects the domestic micro-drama industry to grow at a compound annual growth rate of 31% and reach $4.5 billion by 2030.

ShareChat estimates that its platforms reach about 65 million monthly micro-drama viewers, accounting for nearly two-thirds of the format’s Indian audience.

Users across ShareChat and its associated apps watch more than 700 million micro-drama episodes every day, Charan said.

ShareChat and short-video platform Moj together have around 150 million monthly active users. QuickTV, the company’s subscription-led micro-drama app, has about 3 million subscribers.