New Delhi, June 4 -- Kuku Technologies Ltd has confidentially filed for an initial public offering (IPO), seeking to raise between Rs.2,500 crore and Rs.3,500 crore, according to two people familiar with the matter.

The move makes it the latest company looking to capitalize on investor interest in India's fast-growing micro-drama market.

The proposed IPO will comprise both a fresh issue of shares and an offer for sale. Proceeds from the primary issue will be used to invest in technology and AI infrastructure, content production and geographic expansion, the people said.

Kotak Mahindra Capital, Jefferies, JM Financial and Axis Capital are advising the company on the offering, they added.

The company, which operates vernacular audio pla...