Mohalla Tech Pvt, which operates social network ShareChat, short-video platform Moj and subscription-based micro-drama app QuickTV, is looking to raise up to $400 million from a public market listing planned for next year.
The company, commonly known as ShareChat, is set to become operationally profitable in the first quarter of the year starting in April 2026, Chief Financial Officer Manohar Charan told Bloomberg News in an interview this week. “Our unit economics have now turned positive,” he said. “We will aim to list in the next four or five quarters.”
IPO plans are not final and are subject to change.
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The profit and planned listing mark a significant turnaround for the firm, which had spent the past few years cutting costs and laying off staff as venture funding dried up following the Covid pandemic. It also sidelined unprofitable product bets and reworked its business model to ensure that revenues exceed the cost of serving each user.
Annual revenue at ShareChat, which counts Lightspeed and Tiger Global among its backers, has already crossed Rs 10 billion ($105 million) and is on pace to grow by more than 30% to Rs 14 billion annually.
The main driver of the company’s recovery has been micro-dramas, or serialized stories told in episodes of less than 60 seconds, which have become one of India’s fastest-growing forms of digital entertainment. According to venture fund Lumikai, the mobile-first format is expected to grow to $4.5 billion by the end of 2030 at a compound annual growth rate of 31%.
ShareChat estimates that its platforms currently serve about 65 million monthly micro-drama viewers, or about two-thirds of the Indian audience for the format. Users of ShareChat and its family apps are watching more than 700 million micro-drama episodes every day, Charan said.
ShareChat and Moj together have around 150 million monthly active users while QuickTV has 3 million subscribers. Although these platforms compete with Meta Platform Inc.’s social apps, together they have gained dominance in India’s smaller towns and cities, where regional language content is a key differentiator from Facebook or Instagram.
Artificial intelligence already powers content recommendations, moderation, advertising, and personalized content, and now it’s also helping reduce the cost of producing micro-dramas. Charan said ShareChat will leverage its in-house Generator AI studio and this technology can help the company expand margins to 5% to 7% over the next two years.
