SaaS unicorn Amagi Media Labs files DRHP with Sebi, to raise Rs 1,020 from fresh issue
Amagi Media Labs, a SaaS company, has filed for an IPO with Sebi. The IPO includes a fresh issue of shares and an offer for sale. The company aims to raise funds for technology, cloud infrastructure, and acquisitions. Amagi works with media companies, content providers, and advertisers. The company reported revenue growth and improved EBITDA margin.
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Amagi Media Labs IPO OFS
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Software-as-a-service (SaaS) company Amagi Media Labs Limited has filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India ( Sebi ). The initial public offering (IPO) will be a mix of fresh issue and an offer for sale (OFS).The company plans to raise Rs 1,020 crores to be raised as fresh capital while selling shareholders will offer 3.41 crore equity shares.The company, in consultation with the Book Running Lead Managers (BRLMs) may consider a pre-IPO placement aggregating up to Rs 204 crores prior to filing of the Red Herring Prospectus with the ROC. If the Pre- IPO Placement is undertaken, then the fresh issue will be reduced to the extent of such Pre-IPO placement.The Bengaluru-headquartered company was founded in 2008 by its promoter Baskar Subramanian who is the Managing Director & CEO of the company. Srividhya Srinivasan and Arunachalam Srinivasan Karapattu are other promoters of the company. While the former is the Chief Technology Officer, the latter is President—Global Business.Amagi Media connects media companies to their audiences through cloud-native technology and helps content providers and distributors upload and deliver video over the internet (streaming) through smart televisions, smartphones and applications.The company is backed by leading venture capital firms including Accel , Avataar Ventures, Norwest Venture Partners, and Premji Invest. The company works with more than 45% of the top 50 listed 'media and entertainment' companies by revenue according to the claims made by it in the draft papaers.As part of the OFS, the investor selling shareholders are PI Opportunities Fund I, PI Opportunities Fund II, Norwest Venture Partners X – Mauritius, Accel India VI (Mauritius) Ltd., Accel Growth VI Holdings (Mauritius) Ltd., Trudy Holdings, AVP I Fund, and certain individual selling shareholders.Amagi proposes to utilise Rs 667 crores from the net proceeds of the fresh issue towards investment in technology and cloud infrastructure. It also plans to fund the inorganic growth through unidentified acquisitions and general corporate purposes.Amagi is the end-to-end, AI-enabled cloud platform in the video category of the Media & Entertainment (M&E industry) serving as the 'industry cloud' for the sector. It's business is organised across three key divisions - Cloud Modernization, Streaming Unification and monetisation & marketplace which addresses the requirements of three main categories of customers - Content Providers, Distributors (such as OTT platforms, telecom operators, and smart television manufacturers) and Advertising platforms & advertisers.Amagi reported revenue from operations of Rs 1,162 crores in FY25, recording a compound annual growth rate of 30.70% from FY2023 to FY2025, driven by new customer acquisition and increased use of the platform by existing customers. Amagi's adjusted EBITDA margin improved significantly to 2.02% in FY25, compared to (17.69%) in FY24 and (20.62%) in FY23.Kotak Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services Limited , and Avendus Capital Private Limited are the Book Running Lead Managers to the issue.The equity shares of the company are proposed to be listed on BSE and NSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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