Amagi Raises INR 805 Cr from Anchor Investors Ahead of Initial Public Offering

Media SaaS unicorn Amagi Media Labs has raised INR 805 crore from anchor investors at the upper end of its price band ahead of its initial public offering (IPO), which opens for public subscription on January 13.

The company allotted more than 2.22 crore equity shares to 42 anchor investors at INR 361 per share, according to regulatory filings. The anchor book saw participation from a mix of domestic mutual funds and global institutional investors.

Key domestic participants included SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Tata Mutual Fund, Motilal Oswal Mutual Fund and Franklin Templeton. Global investors such as Goldman Sachs, Societe Generale, and Fidelity also took part. Domestic mutual funds accounted for a significant portion of the anchor allocation, indicating strong interest from local institutions.

Amagi's INR 1,789 crore IPO consists of a fresh issue of shares along with an offer-for-sale (OFS) by existing shareholders. The company said proceeds from the fresh issue will be used to strengthen its technology and data capabilities, expand its presence in international markets and pursue strategic acquisitions. The OFS component will allow some early and late-stage investors to partially exit their holdings.

The issue will remain open for subscription until January 16. The lot size has been fixed at 41 shares, which translates to a minimum retail investment of about INR 14,800 at the upper price band.

Founded in 2008 by Baskar Subramanian, Srividhya Srinivasan, and Srinivasan KA, Amagi is headquartered in Bengaluru and New York. The company operates a software-as-a-service (SaaS) platform that provides cloud-based solutions for media and entertainment companies to create, distribute, and monetise video content across traditional television and digital platforms, including connected TV (CTV), over-the-top (OTT), and free ad-supported streaming TV (FAST).

Amagi's offerings include cloud-based linear channel creation and playout, global content distribution, targeted advertising and server-side ad insertion, live event orchestration, analytics and managed broadcast services. The platform supports clients in managing 24/7 channels and live content while reducing infrastructure and operational costs.

The company works with several global media groups, including NBCUniversal, Warner Media, Fox Networks and A+E Networks UK. It supports more than 800 content brands and delivers thousands of channels worldwide. A large share of Amagi's revenue comes from international markets, particularly the United States.

On the financial front, Amagi has continued to expand its operations. For the financial year ended March 2025, the company reported revenue of around INR 1,162 crore. In the first half of the current financial year, it recorded revenue of INR 706 crore and a profit of INR 6.5 crore. At the upper price band, the company is expected to be valued at over INR 7,800 crore post-issue.