ShareChat Parent Mohalla Tech Plans $400 Million IPO Next Year

ShareChat's parent company has pulled off something that seemed distant just a couple of years ago. Mohalla Tech, which operates social network ShareChat, short-video platform Moj and subscription micro-drama app QuickTV, turned operationally profitable in the first quarter of FY27 and is now targeting a public market listing that could raise up to $400 million.

Chief Financial Officer Manohar Charan told Bloomberg this week that unit economics have turned positive and the company is aiming to list within the next four to five quarters. The initial public offering (IPO) plans are not final and remain subject to change.

The Numbers Behind The Turnaround

• Annual revenue: Crossed ₹1,000 crore, running at an annualised pace of up to ₹1,400 crore

• Revenue growth: Exceeding 30%

• Monthly active users on ShareChat and Moj combined: 150 million

• Monthly micro-drama viewers across platforms: 65 million, roughly two-thirds of India's total audience for the format

• Daily micro-drama episodes watched: Over 700 million

• QuickTV paid subscribers: 3 million

What Drove The Recovery

After venture funding dried up post-pandemic, Mohalla Tech spent several years cutting costs, laying off staff, dropping unprofitable product bets and rebuilding its business model around a principle that revenue per user must exceed the cost of serving that user.

The unexpected growth engine has been micro-dramas. Serialised stories told in episodes as short as 60 seconds have become one of India's fastest-growing entertainment formats, particularly in smaller cities and towns where regional language content resonates deeply.

The format is projected to grow at a 31% compound annual growth rate to reach $4.5 billion by 2030 according to venture fund Lumikai, and ShareChat currently holds roughly two-thirds of India's monthly micro-drama audience.

The AI Margin Play

Artificial intelligence (AI) is already embedded across content recommendations, moderation, advertising and personalised feeds. The next step is using generative AI to reduce the cost of producing micro-dramas at scale. Charan said the company's in-house generative AI studio will be ramped up, with the technology expected to expand margins by 5 to 7% over the next two years.

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The Competitive Position

ShareChat and Moj compete directly with Meta's Instagram and Facebook but have carved out a distinct position in India's tier-two and tier-three cities, where regional language content gives them a structural advantage that English-first global platforms struggle to replicate.