Amagi Files for IPO to Raise Rs 1,020 Cr, Backed by Top Investors
Amagi Media Labs Ltd., a leading provider of cloud-native solutions for broadcast and streaming television, has filed a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The company aims to raise funds to invest in technology and cloud infrastructure, strategic acquisitions, and general corporate purposes.
Amagi's impressive client base includes over 45% of the top 50 global media and entertainment companies by revenue. It powers Free Ad-Supported Streaming Television (FAST) channels, over-the-top (OTT) platforms, and connected TV distribution across the United States, Europe, and Asia-Pacific regions. Founded in 2008 by Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan Karapattu, Amagi has raised close to $360 million from marquee backers including General Atlantic, Premji Invest, and Avataar Ventures.
The proposed IPO consists of a fresh issue of equity shares aggregating up to Rs 1,020 crore and an offer for sale (OFS) of up to 3.41 crore equity shares by existing shareholders. Major shareholders participating in the OFS include Accel, Norwest Venture Partners, Avataar Ventures, PI Opportunities Fund I & II, and individual investors. Amagi may also consider a pre-IPO placement of up to Rs 204 crore, which would proportionately reduce the size of the fresh issue.
Amagi's revenue from operations rose to Rs 1,162 crore in FY25, with an adjusted EBITDA margin of 2.02% and a significant reduction in losses to Rs 68.7 crore. The successful IPO is expected to further strengthen Amagi's position in the global media and entertainment industry, enabling it to invest in technology, expand its services, and explore strategic acquisitions.
