Amagi Media Labs, a software-as-a-service (SaaS) company, has filed the draft red herring prospectus (DRHP) with the capital market regulator Securities and Exchange Board of India (SEBI) to raise ₹1,020 through an Initial Public Offering (IPO).
The equity shares of the company are proposed to be listed on the BSE and NSE.
The IPO combines a fresh issue of equity shares aggregating up to ₹1,020 crore with an offer for sale (OFS) of up to 3,41,88,542 equity shares (3.41 crore equity shares) by the selling shareholders.
As part of the OFS, the Investor Selling Shareholders — 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 will be offloading shares.
Amagi proposes to use the funds to invest in technology and cloud infrastructure (₹667 crore), funding inorganic growth through unidentified acquisitions and general corporate purposes.
Founded in 2008 by Baskar Subramanian (MD and CEO), Srividhya Srinivasan (CTO), and Arunachalam Srinivasan Karapattu (President – Global Business), Amagi is a Cloud-based SaaS platform that connects media companies to their audiences through cloud-native technology and helps content providers and distributors upload and deliver video over the internet (streaming) through smart televisions, smartphones and applications.
Amagi is backed by venture capital firms including Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest. The company works with more than 45% of the top 50 listed ‘media and entertainment’ companies by revenue.
Amagi reported revenue from operations of ₹1,162 crore in FY25, recording a compound annual growth rate of 30.70% from FY2023 to FY2025, driven by new customer acquisition and increased use of the platform by existing customers.
Amagi’s adjusted EBITDA margin improved to 2.02% in FY25, compared to (17.69%) in FY24 and (20.62%) in FY23.
The company, in consultation with the BRLMs, may consider a Pre-IPO Placement aggregating up to ₹204 crore prior to filing of the Red Herring Prospectus with the ROC. If the Pre-IPO Placement is undertaken, then the fresh issue will be reduced to the extent of such Pre-IPO placement.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital are the Book Running Lead Managers to the issue.
