Amagi Media Labs, a cloud-based software-as-a-service company specializing in digital video content streaming and monetization, has successfully mobilized ₹805 crore from anchor investors ahead of its initial public offering. The Bengaluru-based firm announced the fundraising on Monday, just one day before the opening of its ₹1,789 crore IPO.

Anchor Investment Details

According to a BSE circular, Amagi allotted 2,22,95,799 equity shares to 42 anchor investors at ₹361 per share, representing the upper end of the IPO price band. The anchor round attracted a diverse mix of domestic and overseas funds along with long-only insurance companies.

SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund emerged as key participants, collectively accounting for approximately 25% of the total anchor allocation. Other prominent investors include Fidelity, Motilal Oswal MF, HDFC Life Insurance, Tata MF, Franklin Templeton MF, 360 One, Baroda BNP Paribas MF, Amundi, PGIM MF, Bandhan MF, Susquehanna International Group, Bharti AXA, Isometry Capital, Societe Generale, Goldman Sachs, Creaegis, Edelweiss Tokio Life, and New Vernon Capital.

IPO Structure and Timeline

The Amagi IPO will open for public subscription on January 13 and close on January 16, with the price band fixed between ₹343 to ₹361 per share. At the upper end of the band, the company is valued at over ₹7,800 crore.

The offer for sale involves existing shareholders including PI Opportunities Fund I, PI Opportunities Fund II, Norwest Venture Partners X - Mauritius, Accel India VI (Mauritius) Ltd, Trudy Holdings, and certain individual selling shareholders offloading their stakes.

Fund Utilization and Business Operations

Amagi plans to deploy ₹550 crore from the fresh issue proceeds across multiple strategic initiatives. The funds will strengthen the company's technology and cloud infrastructure, support inorganic growth through acquisitions, and meet general corporate expenses. The deployment will occur in phases: ₹82 crore in FY26, ₹359 crore in FY27, and ₹108 crore in FY28.

Founded in 2008, Amagi operates with backing from marquee investors including Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest. The company serves over 45% of the top-50 listed media and entertainment companies in India by revenue, connecting media companies with audiences through cloud-native technology across smart TVs, smartphones, and digital platforms.

Financial Performance

Amagi reported strong financial growth with revenue from operations reaching ₹1,162 crore in FY25, representing a 31% compound annual growth rate between FY23 and FY25. This growth was driven by new customer acquisition and increased platform usage by existing customers. For the six-month period ended September 30, 2025, the company reported a profit of ₹6.40 crore on revenue of ₹704.80 crore.

Market Debut and Allocation

The IPO allocation reserves 75% for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail investors. Amagi Media Labs is scheduled to make its stock market debut on January 21. The book-running lead managers include Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital.

Amagi Media Labs has demonstrated strong institutional confidence by raising ₹805 crore from anchor investors ahead of its ₹1,789 crore initial public offering. The company successfully allotted 2,22,95,799 equity shares to 42 anchor investors at ₹361 per share, representing the upper end of the price band.

Strong Domestic Mutual Fund Participation

The anchor allocation was led by India's three largest domestic mutual fund houses, which together secured approximately 40% of the total anchor book. The allocation includes a diverse mix of 35 resident and seven non-resident investors, spanning domestic mutual funds, global long-only funds, insurance companies, and institutional investors.

Comprehensive Investor Base

Beyond the leading mutual funds, the anchor book features a broad roster of well-known investors including Baroda BNP Paribas Mutual Fund, Amundi, PGIM Mutual Fund, Bandhan Mutual Fund, and 360One. International participation came from institutions such as Isometry Capital and New Vernon Capital, while Helios Capital, including its mutual fund arm, and Creaegis were also among the anchor investors.

IPO Timeline and Structure

The public issue opens on January 13 and will close on January 16. The bidding period has been extended to four days due to local municipal corporation elections in Maharashtra, which led to a trading and settlement holiday on January 15.

Fund Utilization and Market Significance

The IPO comprises a fresh issue and an offer for sale, with fresh issue proceeds of ₹816 crore earmarked for investments in technology and cloud infrastructure, funding inorganic growth through acquisitions, and general corporate purposes. The company has positioned these investments as critical to scaling its platform and strengthening its global footprint in advertising technology.

Amagi's IPO represents the first listing from the deep-tech and SaaS segment in the private sector this year, adding significance in an otherwise cautious primary market environment. The issue is expected to serve as a barometer of institutional appetite for technology-driven business models after a muted period for new-age listings. Amagi operates in the advertising technology space, focusing on data-driven solutions for media companies and advertisers, particularly in connected TV and digital advertising.