India’s homegrown social media company is finally making its move toward the public markets. Mohalla Tech, the Bengaluru-based parent company of ShareChat, short-video platform Moj, and subscription micro-drama app QuickTV, is targeting a stock market listing that could raise as much as $400 million, according to a Bloomberg report published on July 2, 2026, citing the company’s chief financial officer. The proposed IPO is being planned within the next four to five quarters placing it squarely in the FY27 or early FY28 window.
The timing is no accident. ShareChat has turned operationally profitable in the first quarter of the financial year beginning April 2026, following years of cost restructuring, layoffs, and deliberate platform focus. “Our unit economics has now turned positive,” CFO Manohar Charan told Bloomberg News. “We will aim to list over the next four or five quarters.” The company cautions that the IPO plans are still preliminary and could change depending on market conditions.
“ShareChat, India’s Meta Rival, Plans $400 Million IPO Next Year. Mohalla Tech turned operationally profitable in Q1 FY27 after years of cost cuts and restructuring. CFO Manohar Charan says: ‘Our unit economics has now turned positive.'”~Bloomberg
Revenue Growing 30%, Micro-Drama Boom Driving The Recovery:
The financial metrics behind the IPO plan are credible. The company has annual revenue exceeding ₹1,000 crore approximately $105 million with revenue running at an annualised pace of up to ₹1,400 crore and growing more than 30% year-on-year. That combination of size, trajectory, and newly achieved operational profitability gives ShareChat a story to tell institutional investors that was simply not available to it eighteen months ago.
The tremendous emergence of micro-dramas, which are short, serialized stories given in episodes as little as 60 seconds, has contributed significantly to this revival. The format has emerged as one of the most rapidly expanding categories of India’s digital entertainment market. Lumikai, a venture capital firm, expects the domestic micro-drama business to develop at a 31% compound annual rate, reaching $4.5 billion by 2030.
ShareChat estimates its platforms reach about 65 million monthly micro-drama viewers nearly two-thirds of the format’s total Indian audience. Users across ShareChat and associated apps watch more than 700 million micro-drama episodes every day. QuickTV, the company’s subscription-led micro-drama app, already has around 3 million paying subscribers. ShareChat and Moj together serve approximately 150 million monthly active users.
“ShareChat parent Mohalla Tech eyes $400 million IPO in FY28 after turning operationally profitable in Q1 FY27. Revenue growing 30%+ YoY at annualised ₹1,400 crore. QuickTV has 3 million paying subscribers and 65 million micro-drama viewers monthly.”~Inc42
How ShareChat Survived The Funding Winter And What Changed:
A public listing would be a significant turnaround for ShareChat, which was one of several venture-backed Indian firms forced to cut costs as the investment boom of the preceding years collapsed. Following years of expense cuts and layoffs, ShareChat abandoned its experimental verticals in favor of regional language content, a strategy that has proven commercially successful.
ShareChat and Moj have carved out a distinctive niche among users in smaller cities and towns by offering content in multiple Indian regional languages. That focus on Bharat rather than metro English-speaking audiences put ShareChat in direct competition with Meta’s Instagram Reels and YouTube Shorts for attention, but on home turf where regional language capability is a genuine competitive moat.
The company is also increasing investment in generative AI to lower content production costs and improve margins. AI-powered tools are being used to assist creators in producing content at scale, reducing per-episode production costs on QuickTV and improving content recommendation across platforms.
ShareChat is supported by well-known investors such as Google, Twitter, Snap, Temasek, and Tiger Global, whose shareholder list would draw significant attention on any institutional roadshow.
“ShareChat eyes $400 million IPO next year after turning operationally profitable in Q1 FY27. Revenue growing 30%+ YoY. Micro-drama viewers at 65 million monthly. Backed by Google, Snap, Twitter and Tiger Global.”~Business Today
The Competitive Landscape: Meta, Josh, And The Race For India’s Regional Internet
ShareChat’s IPO ambition plays out in one of the most competitive digital markets on the planet. India has over 800 million internet users, with a significant proportion consuming content in languages other than English. Meta’s Reels on Instagram and Facebook remain formidable competitors, while Dailyhunt’s Josh has also targeted the same short-video and regional language space.
Where ShareChat stands out is its extensive regional language coverage and the micro-drama format, which Instagram and YouTube have yet to aggressively pursue in India. The QuickTV subscriber base of 3 million paying subscribers reveals that Indian internet users are prepared to pay for serialised short-form material in local languages, indicating that the company’s product thesis has significant commercial traction.
If the IPO proceeds within the four-to-five quarter window Charan outlined, ShareChat would join a growing cohort of Indian consumer internet companies listing in FY27-FY28, alongside Zepto, Razorpay, and potentially Flipkart. For a company that came close to running out of runway just two years ago, reaching the public markets as an operationally profitable business would be one of the more remarkable recoveries in India’s startup ecosystem.
