Amagi cuts IPO size, eyes $869 million valuation
08 Jan 2026, 03:45 PMThe IPO will open for bids on January 13 for retail and institutional investors.
Team Head&Tale
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Amagi Media Labs, a cloud-based SaaS firm, has reduced the size of its initial public offering (IPO) that will open for bids next week, according to its red herring prospectus (RHP).
The Bengaluru-based company will issue new shares worth Rs 816 crore, compared with its initial plan of Rs 1,020 crore.
Amagi's existing shareholders such as Norwest Venture Partners, Accel India and Premji Invest are planning to sell 26.9 million shares against the 34.2 million planned earlier.
The company, which had received approval from the Securities and Exchange Board of India (SEBI) for the IPO in November last year, has set the share price range between Rs 343 and Rs 361.
At the upper end of the price band, it is targeting a valuation of $869 million. The company was valued at $1.4 billion in 2022 when it had raised $100 million from General Atlantic.
The subscription window for retail and institutional investors will remain open from January 13 to January 16, with the anchor investor portion scheduled for January 12.
The company plans to deploy the funds raised through the fresh share sale toward enhancing its technology and cloud infrastructure capabilities, exploring acquisition opportunities, and supporting general corporate requirements.
Amagi was established in 2008 by Baskar Subramanian, Srinivasan KA, and Srividhya Srinivasan.
Amagi specializes in providing cloud-native software solutions that help media companies manage content distribution, launch channels, and generate advertising revenue across connected TV, over-the-top streaming platforms, and traditional linear television. The platform serves numerous global broadcasters, streaming services, and content producers, with a substantial portion of its business originating from overseas markets, especially North America.
The company reported revenues of around Rs 1,162 crore for the financial year ending March 2025 as compared to Rs 879.1 crore in the previous financial year. Its net loss reduced to Rs 68.71 crore from Rs 245 crore in FY24.
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