India’s Mohalla Tech, a Bengaluru-based company that runs social network ShareChat, is targeting up to US$400 million in an initial public offering next year.

The IPO plans come after the firm achieved operational profitability in the quarter that starting April 2026.

The company said annual revenue has crossed 10 billion rupees (US$105 million), and is running at an annualized pace of as much as 14 billion rupees (US$147 million).

Mohalla Tech was valued at US$5 billion in a planned 2022 funding round. Backers include Temasek, Lightspeed, and Tiger Global.

The listing plan follows years of restructuring.

ShareChat cut 20% of staff in January 2023 after shutting fantasy sports app Jeet11, then laid off 40 more employees in December 2023.

🔗 Source: Bloomberg

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