Audio entertainment startup Pocket FM has started discussions to shift its holding structure back to India as it explores a potential domestic public listing, people aware of the matter told ET.

The company, currently housed in the US, will need to complete the reverse flip before filing for an initial public offering in India. Such a move involves bringing the holding company of an overseas-domiciled startup back to India, aligning the corporate structure with its main operating market and listing plans.

The plan comes at a time when Kuku Technologies, the parent of rival audio and video content platform Kuku FM, has taken a formal step towards the public markets.


ET reported earlier this month that Kuku Technologies has confidentially filed draft papers with the Securities and Exchange Board of India for a Rs 3,500-crore IPO, targeting a valuation of around Rs 15,000 crore.

“Kuku’s filing has sharpened the focus on India’s audio and mobile-first storytelling market, where companies are trying to scale paid content models across audio series, video-led storytelling and microdramas,” said one of the sources quoted above.

Pocket FM has also been in talks with private market investors to raise fresh capital of about $150 million, they said.