Amagi Media Labs IPO: ₹1,789 Crore Issue Opens January 13 with Price Band ₹343-361
Amagi Media Labs has set its IPO price band at ₹343-361 per share for the ₹1,789 crore public offering opening January 13. The cloud-based SaaS company demonstrates strong growth with 30.70% revenue CAGR and recent profitability turnaround, while commanding a ₹34 grey market premium indicating positive investor sentiment.
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Amagi Media Labs has set the price band for its ₹1,789.00 crore Initial Public Offering between ₹343 to ₹361 per share, with the issue opening for subscription on January 13. The three-day public offering represents one of the significant technology IPOs in the Indian market, with bidding for anchor investors scheduled for January 12, preceding the main public offering.
IPO Structure and Investment Details
The public offering comprises two components: a fresh issue of shares worth ₹816.00 crore and an Offer for Sale component of up to 26,942,343 equity shares by selling shareholders. The company has structured different investment categories to accommodate various investor segments.
| Investor Category: | Allocation | Minimum Investment |
|---|---|---|
| Retail Investors: | 10% | ₹14,801 (41 shares) |
| Non-Institutional Investors: | 15% | Higher denominations |
| Qualified Institutional Buyers: | 75% | Institutional amounts |
Selling shareholders in the OFS component include PI Opportunities Fund I, PI Opportunities Fund II, Norwest Venture Partners X – Mauritius, Accel India VI (Mauritius) Ltd., Accel Growth VI Holdings (Mauritius) Ltd., Trudy Holdings, AVP I Fund, and certain individual selling shareholders. The company plans to utilise ₹667.00 crore from the fresh issue proceeds for investment in technology and cloud infrastructure, funding inorganic growth through acquisitions, and general corporate purposes.
Grey Market Premium and Market Expectations
The grey market premium of Amagi Media Labs stands at ₹34.00, indicating a potential listing price of ₹395.00 and a listing premium of over 9%. This GMP reflects positive investor sentiment and expectations for the IPO's market debut.
| GMP Details: | Value |
|---|---|
| Current GMP: | ₹34.00 |
| Expected Listing Price: | ₹395.00 |
| Listing Premium: | Over 9% |
Financial Performance and Growth Trajectory
Amagi Media Labs has demonstrated consistent revenue growth, achieving a compound annual growth rate of 30.70% from FY23 to FY25. The financial performance shows a clear trajectory toward profitability, with the company reporting revenue of ₹1,162.00 crore in FY25.
| Financial Metric: | FY23 | FY24 | FY25 | H1 FY26 |
|---|---|---|---|---|
| Revenue (₹ Cr): | 680.56 | 879.16 | 1,162.64 | 704.82 |
| YoY Growth (%): | - | 29.18% | 32.24% | - |
| Adj EBITDA (₹ Cr): | -140.34 | -155.53 | 23.49 | 58.23 |
| EBITDA Margin (%): | -20.62% | -17.69% | 2.02% | 8.26% |
| PAT (₹ Cr): | -321.27 | -245.00 | -68.71 | 6.47 |
Notably, Amagi turned EBITDA positive in FY25 with a margin of 2.02% and further improved to 8.26% in H1 FY26, while also achieving positive net profit of ₹6.47 crore in the six-month period. The growth has been driven by new customer acquisition and increased platform usage by existing customers.
Company Profile and Operations
Founded in 2008 and headquartered in Bengaluru, Amagi Media Labs operates as a cloud-based SaaS company that helps media firms stream and monetise digital video content. The company connects media companies to their audiences through cloud-native technology and helps content providers upload and deliver video over the internet through smart televisions, smartphones and applications. Amagi works with more than 45% of the top 50 listed media and entertainment companies by revenue.
The company was founded by promoters Baskar Subramanian (Managing Director & CEO), Srividhya Srinivasan (Chief Technology Officer), and Arunachalam Srinivasan Karapattu (President—Global Business). Amagi is backed by leading venture capital firms, including Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest.
IPO Timeline and Management
The public offering follows a structured timeline with key dates for investors. The issue will close for subscription on January 16, followed by share allotment and trading commencement on BSE and NSE.
| Key Date: | Event |
|---|---|
| January 12: | Anchor investor bidding |
| January 13-16: | Public subscription period |
| January 19: | Share allotment |
| January 20: | Credit to demat accounts |
| January 21: | Stock market debut on BSE and NSE |
The IPO is managed by prominent investment banks serving as book running lead managers: Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services Limited, and Avendus Capital Private Limited.
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