Amagi Media Labs IPO subscribed 30.22 times

New Delhi, Jan 16 (PTI) The initial public offering (IPO) of Amagi Media Labs Ltd, a cloud-based software-as-a-service (SaaS) company that enables media firms to stream and monetise digital video content, received 30.22 times subscription on the final day of bidding on Friday.

The IPO received bids for 82,40,12,260 shares against 2,72,66,589 shares on offer, as per NSE data.

The quota for non-institutional investors fetched 37.36 times subscription, while the category for qualified institutional buyers got subscribed 33.77 times. The portion for retail individual investors received 9.31 times subscription.

Amagi Media Labs on Monday said it has raised about Rs 805 crore from anchor investors.

The price band for the issue has been fixed at Rs 343-361 per share, valuing the company at over Rs 7,800 crore at the upper end of the band.

The Bengaluru-based company's IPO comprises a fresh issue of shares worth Rs 816 crore, along with an offer-for-sale (OFS) of 2.7 crore shares valued at Rs 972.6 crore at the upper price band by existing shareholders. This takes the total issue size to Rs 1,788.6 crore.

Proceeds from the fresh issue of Rs 550 crore will be used to strengthen Amagi's technology and cloud infrastructure, fund inorganic growth through acquisitions, and meet general corporate expenses.

These funds will be deployed in phases, with Rs 82 crore earmarked for FY26, Rs 359 crore for FY27, and Rs 108 crore for FY28.

Founded in 2008, Amagi is backed by marquee investors such as Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest.

The company works with over 45 per cent of the top-50 listed media and entertainment companies in India by revenue.

The SaaS firm connects media companies with audiences using cloud-native technology, enabling the delivery and monetisation of video content across smart TVs, smartphones, and digital platforms. Its operations are organised into three core segments -- cloud modernisation, streaming unification, and monetisation and marketplace.

The book-running lead managers to the issue are Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital. PTI SUM TRB