Amagi Media Labs Files IPO to Raise Rs 1,020 Cr

Amagi Media Labs Ltd. files for an IPO to raise Rs 1,020 crore, driven by significant global media client partnerships and solid financial growth within the cloud-based media technology sector.

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Amagi Media Labs Ltd., a Bengaluru-based cloud media technology company, has filed draft papers with India’s market regulator to raise funds through an initial public offering (IPO). The public issue aims to raise up to Rs 1,020 crore through a fresh equity issue and includes an offer-for-sale (OFS) by existing shareholders.

About Amagi: A Leader in Cloud-Based Media Technology

Founded in 2008 by Srividhya Srinivasan, Baskar Subramanian, and Srinivasan KA, Amagi has grown into one of India’s prominent cloud-based broadcast and advertising solutions providers. The company serves global media giants like NBC and Comcast and claims to work with over 45% of the top 50 media and entertainment companies by revenue.

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Key Details of the IPO

• Fresh Issue Size: Equity shares aggregating up to Rs 1,020 crore
• Offer-for-Sale (OFS): Up to 3.41 crore shares by existing shareholders, including PI Opportunities Fund I and II, Norwest Venture Partners, Accel India VI, Accel Growth VI Holdings, and AVP I Fund
• Pre-IPO Placement: Potential raise of up to Rs 204 crore, if undertaken, fresh issue size to be adjusted accordingly
• Listing: Proposed listing on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE)

Use of Proceeds from the IPO

According to the draft red herring prospectus (DRHP) filed with SEBI, the company intends to use the IPO proceeds primarily for:

• Investment in technology and cloud infrastructure – Rs 667 crore
• Supporting potential acquisitions
• Funding general corporate expenses

Amagi’s Business Model and Market Position

Amagi structures its business around three core verticals:

1. Cloud Modernization: Modernizing broadcast and streaming infrastructure
2. Streaming Unification: Offering integrated streaming solutions to content creators and distributors
3. Monetization & Marketplace: Providing AI-enabled advertising and marketplace platforms

Amagi promotes itself as the only end-to-end, AI-enabled cloud platform specializing in the video segment of the media and entertainment industry, catering to content creators, distributors, and advertisers alike.

Financial Performance Highlights

Amagi has demonstrated strong financial growth backed by its scalable cloud-based solutions:

With this growth, Amagi has successfully turned EBITDA-positive in FY25, reversing previous losses.

Underwriters and Market Listings

The IPO is being managed by a strong consortium of book-running lead managers, including Kotak Mahindra Capital, Citigroup, Goldman Sachs India, IIFL Capital, and Avendus Capital. The equity shares will be listed on both the BSE and NSE, broadening access for investors.

Why Amagi’s IPO is Significant for the Media Tech Industry

As media consumption rapidly shifts towards streaming and cloud-based platforms, Amagi’s IPO marks a pivotal moment in India’s media technology evolution. The company’s expertise in unifying streaming and modern advertising technologies places it at the forefront of the industry, making this IPO an attractive opportunity for investors looking to tap into the expanding media and entertainment sector.

Investors keen on cloud media technology and AI-driven platforms should watch Amagi’s story closely as it expands its footprint both domestically and globally.

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