Amagi IPO to open on Jan 13; price band set at Rs 343-361
The IPO of Amagi will see Premji Invest making a gain 14x and it is a modest return for Accel.
Amagi Media Labs' initial public offering (IPO) will open on January 13, with its issue priced between Rs 343-361. Investor Premji Invest stands to gain rich dividends.
The SaaS firm's IPO is a combination of offer for sale (OFS) and fresh issue of shares where the company will be raising around Rs 1,788 crore. The fresh issue of shares will be aggregating up to Rs 816 crore and OFS will be up 26,942,343 equity shares by the selling shareholders which amounts to Rs 972 crore taking into account the upper band of the IPO price.
Amagi is the first company from the Indian startup ecosystem to be listed on the stock markets in 2026.
Early backer Premji Invest stands to gain 14x from the IPO as its average acquisition cost per share is Rs 24. Another investor Accel expects to gain around 41%. The other institutional selling shareholders in the issue include Trudy Holdings and Norwest Venture Partners.
The money raised through the fresh issue of shares will be used for funding expenses towards technology and cloud infrastructure, acquisitions and for corporate general purposes.
Founded in 2018, Amagi provides technology under the SaaS model that connects media companies to their audience through cloud-native technology. It generates 73% of the revenue from the US market.
The company reported a revenue of Rs 1163 crore for FY25 which was 32% growth when compared to FY24 revenues of Rs 879 crore. The losses of Amagi have come down to Rs 69 crore in FY25 as compared to Rs 245 crore in FY24.