VerSe Innovation, one of India’s most prominent digital content companies, is setting its sights on the public market. The Bengaluru based firm, which owns and operates Dailyhunt, Magzter and Josh, has informed investors that it plans to go public before March 2027. This move comes after years of rapid growth, heavy fundraising, and a commitment to strengthening internal controls following earlier audit issues.
Founded by Virendra Gupta and co-led by Umang Bedi, VerSe has been a major player in India’s digital revolution, particularly in the regional language content ecosystem. Dailyhunt, which began as Newshunt before being renamed in 2015, has grown into one of the most widely used vernacular news platforms in the country. The short video platform Josh has positioned itself as a strong alternative to global social media rivals, while the acquisition of Magzter in 2024 added a global digital newsstand to its portfolio.
Over the years, VerSe has raised more than two billion dollars from marquee investors across the world. Its backer list includes Google, Microsoft, Carlyle Group, Baillie Gifford, ByteDance, Goldman Sachs, CPP Investments, Ontario Teachers’ Pension, Qatar Investment Authority and several leading hedge funds. In April 2022, the company raised eight hundred and five million dollars at a five billion dollar valuation, one of the largest rounds in India’s digital sector at the time.
However, the road has not always been smooth. In financial year 2023, Deloitte, the company’s auditor, raised concerns about revenue recognition practices and internal controls. There were also reports of inflated income and questionable billing transactions. As a result, VerSe revised its total income downward from one thousand eight hundred and nine crore rupees to one thousand three hundred and fifty six crore rupees. The company publicly assured investors that it had addressed these issues and was committed to better governance, transparency and financial discipline.
Now, with those challenges behind it, VerSe expects to achieve break-even in the second half of 2025. According to industry sources, Avendus Capital is likely to be the lead adviser for its initial public offering. Avendus has previously guided the firm through major fundraising efforts and played a role in the Magzter acquisition. Neeraj Shrimali, a senior executive at Avendus, has been closely associated with VerSe’s journey in securing large investments.
The company’s founders remain confident about the future. They believe that India’s next wave of growth will come from the billion new users emerging from regional and semi urban markets. By focusing on video content and vernacular platforms, they see VerSe as well positioned to capture this opportunity. With its diverse portfolio and a strong base of institutional backers, the IPO could attract significant investor interest both in India and abroad.
The listing will also mark a milestone for India’s digital economy. It would underline the strength of regional content platforms, highlight the appetite global investors have for Indian technology firms, and give public market investors a chance to participate in a homegrown digital success story.
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