Social media unicorn ShareChat is planning to raise up to $400 million through an initial public offering (IPO) targeted for fiscal year 2028. Manohar Charan, cofounder and CFO of ShareChat parent Mohalla Tech, said the company aims to list within the next four to five quarters. The startup achieved operational profitability in the first quarter of FY27, marking a significant milestone ahead of the IPO, according to inc42.com.
Mohalla Tech operates ShareChat along with short video platform Moj and subscription-based microdrama app QuickTV. Charan told Bloomberg that the company’s unit economics have turned positive after a period of restructuring. This included multiple rounds of layoffs, cost-cutting, exiting unviable products, and overhauling the business model. ShareChat’s platforms now attract about 65 million monthly microdrama viewers, with users consuming more than 700 million episodes daily, inc42.com reported.
The IPO plans come after ShareChat crossed ₹1,000 crore in revenue in FY26 and recorded nine consecutive months of positive cash flow. The company’s operational profitability and improved financial health follow a challenging phase after the funding boom of 2021-22 ended. This turnaround positions ShareChat among notable Indian startups preparing for public listings, reflecting broader trends in the social media and digital content sectors, according to inc42.com.
Mohalla Tech’s IPO target of up to $400 million is set for the next fiscal year, with the company currently running at an annualized positive cash flow. The listing will provide investors insight into ShareChat’s financial performance and growth prospects as it transitions from a startup to a publicly traded company, inc42.com stated.