Mohalla Tech, the company behind ShareChat, Moj and QuickTV, wants to go public within a year and raise up to $400 million, on the strength of a profit it only just found.
Two and a half years ago, ShareChat was cutting a fifth of its staff and watching a $5 billion valuation get marked down to roughly $1.5 billion. This week, its chief financial officer is talking about an IPO instead. According to a Bloomberg report published July 2, 2026, Mohalla Tech plans to list on public markets within four to five quarters and is targeting a raise of as much as $400 million.
CFO Manohar Charan told Bloomberg that Mohalla Tech turned operationally profitable in the first quarter of its fiscal year that began in April 2026. "Our unit economics has now turned positive," he said, in a line that reads almost understated next to what it took to get there.
It has been a long climb.
In FY25, Mohalla Tech cut its adjusted EBITDA loss by 72%, to 219 crore rupees from 793 crore rupees the year before, according to figures reported by Inc42. Revenue barely moved, edging up to 723 crore rupees from 718 crore rupees. That's not a growth story. It's a company that stopped bleeding first and is only now promising to grow, with Charan targeting 30% revenue growth for FY26 and pointing to an annualized recurring revenue run rate of 1,000 crore rupees by the middle of the fiscal year.
The three products carrying that bet don't look much alike. ShareChat is the vernacular social network that made Mohalla Tech a unicorn in the first place, built for users posting in regional languages who never felt at home on English-first Facebook. Moj is the short-video app the company rushed out in mid-2020, within weeks of India banning TikTok, then expanded by buying Times Internet's MX TakaTak for more than $600 million. QuickTV, the newest of the three, is a subscription micro-drama app that launched in May 2025 and is now central to the company's growth pitch.
The MX TakaTak deal is a reminder of how badly Moj's timing actually played out. YouTube and Instagram, not ShareChat, ended up absorbing most of the traffic that fled TikTok, and Mohalla Tech spent the years since paying for acquisitions and headcount it later had to unwind. In January 2023 alone it let go of roughly 400 people, about a fifth of its workforce, its second round of cuts in as many months.
The investor list explains why the company got a long runway to fix that. Google, Times Internet's parent Times Group and Temasek Holdings led a $300 million round in 2022 that valued Mohalla Tech at $5 billion, after earlier rounds backed by Twitter, Tiger Global, SAIF Partners, Lightspeed and India Quotient. Money that size buys patience, but not forever. By December 2023, a new funding round had reset the company's valuation to around $1.5 billion.
An IPO next year would land alongside a much bigger one. Xiaohongshu, the Chinese platform that inherited millions of displaced TikTok users after the American ban, is preparing its own Hong Kong listing by the end of 2026 at a valuation north of $70 billion, with Goldman Sachs and CICC running the deal, according to the Wall Street Journal and Bloomberg. Mohalla Tech's $400 million target sits nowhere near that scale, and its story runs the opposite direction. Xiaohongshu is riding a windfall. Mohalla Tech is climbing out of a hole.
Whether the climb holds will show up in the next four or five quarterly reports, not in a single Bloomberg story. One profitable quarter got Mohalla Tech a headline. It will take several more to get it a listing anyone actually wants to buy into.
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