Mebigo picks bankers for $200-mn IPO

MEBIGO LABS, THE operator of the audio platform Kuku FM, has hired banks for an initial public offering that could raise as much as $ 200 million, according to people familiar with the matter.

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The Mumbai-based company has appointed Kotak Mahindra Capital Co., Axis Bank and the Indian unit of Morgan Stanley to manage the share sale, the people said.

Proceeds from the offering are expected to support an expansion of Mebigo's content library and deepen its regional-language offerings, they said.