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Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others

EntrackrEntrackr · 1d ago
Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others
Medial

Amagi IPO unlocks 14x returns for Premji Invest, multi-fold gains for others According to analysis done by Entrackr, marquee venture capital firms including PI Opportunity Fund, Norwest Venture Partners, and Accel India are staring at multi-fold gains on their initial investments. Bengaluru-based SaaS firm Amagi Media Labs Ltd has filed its red herring prospectus (RHP) and announced a price band of Rs 343–Rs 361 per share for its upcoming initial public offering (IPO). PI Opportunity Fund (Premji Invest), the largest institutional shareholder in Amagi, invested nearly Rs 114 crore at an average acquisition cost of around Rs 25.5 per share. At the upper end of the IPO price band, the fund’s stake is now valued at over Rs 1,610 crore, translating into a return of over 14x. The fund is set to partially exit via an offer-for-sale (OFS) of about 1.33 crore shares, which alone is worth nearly Rs 480 crore. Norwest Venture Partners X, which invested around Rs 504 crore, is also poised for a significant payday. Its holding is now valued at approximately Rs 1,056 crore, a little over a 2x return. The firm is selling 33.8 lakh shares worth about Rs 122 crore in the IPO. Similarly, Accel India, which invested nearly Rs 246 crore, is set to see its stake grow to around Rs 821 crore, generating over 3x returns. Accel plans to offload more than 50.7 lakh shares through the OFS, valued at about Rs 183 crore at the IPO price band. Trudy Holdings, another early backer, has also clocked a more than 3x jump, with its stake now valued at over Rs 461 crore. Apart from institutional investors, several early individual shareholders are also set to achieve substantial gains. Angel investors such as Prem Gupta, Moglix’s founder Rahul Garg, Rajat Garg, and Rajesh Ramaiah who invested small amounts in Amagi, saw their holdings multiply several times over, with returns ranging from 5x to over 15x, despite modest capital outlay. Amagi’s IPO is also expected to significantly boost the wealth of its founding team. The company’s promoters i.e. Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan, together hold a substantial stake in the company, which is now valued at Rs 1,039 crore at the IPO price band. Individually, Baskar Subramanian’s holding is valued at around Rs 345 crore, while Srividhya Srinivasan and Arunachalam Srinivasan hold stakes worth approximately Rs 345 crore and Rs 348 crore, respectively. Amagi’s Rs 1,788.62 crore public issue will open for subscription on January 13 and close on January 16, while the anchor book will open on January 12. The company has fixed the lot size at 41 shares, translating to a minimum retail investment of around Rs 14,800 at the upper end of the price band.

Related News

Amagi converts to public entity ahead of IPO plans

EntrackrEntrackr · 7m ago
Amagi converts to public entity ahead of IPO plans
Medial

Amagi, a leading cloud-based media SaaS company, is preparing for an initial public offering (IPO) and has taken a concrete step by converting its holding company into a public entity. The board of Amagi has approved a resolution to change its status to a public company and rename it from "Amagi Media Labs Private Limited" to "Amagi Media Labs Limited," according to its regulatory filing. As per media reports, Amagi is planning to raise Rs 3,200 crore through a public listing and has appointed Kotak Mahindra Capital, Citigroup, IIFL Capital, and Goldman Sachs as book-running lead managers. Earlier this month, the Accel-backed company also appointed Ira Gupta and Giridhar Sanjeevi as independent directors to meet the regulatory requirements of the Securities Exchange Board of India (SEBI). Amagi is a cloud-based media SaaS company offering solutions for content creation, distribution, and monetization. Its platform enables broadcasters to virtualize operations and deliver personalized ads for clients such as Warner Bros., NBCUniversal, Rakuten TV, and Paramount. As per the startup data intelligence platform TheKredible, the SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. The company, which established a steady revenue stream after navigating a difficult pivot, attained unicorn status in March 2022 following its largest funding round—a $100 million investment led by General Atlantic. During the fiscal year ending March 2024, the company recorded 29% year-on-year growth in its operating revenue to Rs 879 crore while managing to reduce its losses by 23.7% to Rs 245 crore in FY24.

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS

EntrackrEntrackr · 5m ago
Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS
Medial

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS Amagi plans to raise Rs 1,020 crore through a fresh issue of equity shares, while existing investors will offload up to 3.4 crore shares via an Offer for Sale (OFS). Cloud-based SaaS platform Amagi Media Labs has filed its Draft Red Herring Prospectus (DRHP) with SEBI, marking a key step toward its public market debut. According to the DHRP, Accel, Norwest Venture Partners, Avataar Ventures, PI Opportunities Funds, and others are part of the OFS. Accel, through two entities, Accel India VI and Accel Growth VI will divest over 60 lakhs shares while Norwest Ventures and PI Fund are looking to sell 79 lakhs and 99 lakhs shares respectively in OFS. Avataar’s AVP I Fund will also offload nearly 18 lakhs shares. Trudy Holdings, Prem Gupta, Rahul Garg, Rajesh Ramaiah and other individual shareholders will also participate in the partial exit during the offer for sale. Founded in 2008, Amagi provides cloud-native solutions for broadcast and streaming TV platforms, enabling content owners to launch, distribute and monetize live linear channels globally. The company counts global media brands and FAST (Free Ad-Supported Streaming TV) platforms as clients, with the U.S. being its largest market. The IPO proceeds from the fresh issue will be deployed toward strategic investments in technology and product development, business expansion, and general corporate purposes. The company is also considering a pre-IPO placement of up to Rs 204 crore, which would reduce the size of the fresh issue accordingly. Amagi converted into a public company in May this year in preparation for the listing. The IPO is being managed by a consortium of banks, including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. As per the DRHP filings, Amagi’s has recorded a 32% year-on-year increase in its revenue to Rs 1,163 crore in FY25 from Rs 879 crore in FY24. With the decent growth, the company has managed to reduce its losses by 72% to Rs 68.7 crore in FY25, compared to Rs 245 crore in FY24. According to startup data intelligence platform TheKredible, SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. Indian SaaS companies are making headlines with ambitious IPO plans amid strong sector growth.

Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70%

EntrackrEntrackr · 5m ago
Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70%
Medial

Amagi scales past Rs 1,100 Cr revenue in FY25, narrows losses by over 70% Bengaluru-based cloud media SaaS firm Amagi Media Labs has posted a strong financial turnaround in FY25. The company’s operating revenue surged 32% to Rs 1,163 crore from Rs 879 crore in FY24. Amagi reduced its losses by 72% to Rs 69 crore in FY25 from Rs 245 crore in the previous fiscal year. Amagi is a cloud-based media SaaS technology company providing solutions for content creation, distribution, and monetization. The majority of its revenue came from the America region, contributing Rs 847 crore, marking a 33% jump from FY24. Europe followed with Rs 202 crore, while Asia Pacific markets saw the sharpest growth at 77% to Rs 78 crore. On the expense side, employee benefit expenses grew 5% to Rs 695 crore, and communication costs rose 34% to Rs 364 crore. Total expense grew moderately by 8% to Rs 1,275 crore in FY25. Amagi converted into a public company in May 2025 in preparation for listing. The IPO is being managed by a consortium of banks including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. According to startup data intelligence platform TheKredible, Amagi has raised approximately $340 million to date from investors such as Premji Invest, Accel, and General Atlantic.

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