Daijiworld Media Network - Bengaluru

Bengaluru, Jul 26: Cloud-based SaaS company Amagi Media Labs has filed its draft red herring prospectus with SEBI, aiming to raise Rs 1,020 cr through a fresh issue of shares as part of its initial public offering (IPO).

In addition to the fresh issue, the Bengaluru-based firm’s IPO will also include an offer for sale (OFS) of 3.41 cr shares by existing investors, including PI Opportunities Fund I & II, Norwest Venture Partners X (Mauritius), Accel India VI, Accel Growth VI (Mauritius), Trudy Holdings, AVP I Fund, and certain individual shareholders.

Amagi may also explore a pre-IPO placement of Rs 204 crore, which could reduce the size of the fresh issue accordingly.

Of the proceeds, Rs 667 crore will be allocated for technology and cloud infrastructure enhancement, strategic acquisitions, and general corporate purposes, the company stated.

Founded in 2008, Amagi is a cloud-native SaaS platform serving over 45% of the world’s top 50 media and entertainment companies. It helps media brands distribute and monetize content through smart TVs, smartphones, and OTT applications.

Its operations span three verticals — cloud modernization, streaming unification, and monetization & marketplace. In FY2024, Amagi clocked Rs 1,162 crore in revenue, posting a CAGR of 31% since FY2023.

Investment banks including Kotak Mahindra Capital, Citi, Goldman Sachs, IIFL Capital, and Avendus Capital are managing the IPO. The company’s shares will be listed on BSE and NSE.