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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 files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO

EntrackrEntrackr · 4d ago
Amagi files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO
Medial

Amagi files RHP, sets Rs 343–361 price band for Rs 1,789 Cr IPO 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). The 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. The IPO is a combination of a fresh issue and an offer for sale (OFS). While the company will raise about Rs 816 crore through fresh issuance, existing shareholders will offload shares worth nearly Rs 972.62 crore via the OFS route. According to the Red Herring Prospectus, the proceeds from the fresh issue will be used to strengthen technology and cloud infrastructure, pursue inorganic growth opportunities, and meet general corporate expenses. In November last year, the company received SEBI approval for its initial public offering. Several early and growth-stage investors are participating in the OFS, including Accel India VI (Mauritius), Norwest Venture Partners X – Mauritius, PI Opportunities Fund I & II, Trudy Holdings, along with individual shareholders such as Rajat Garg, Rahul Garg, Prem Gupta, Kollengode Ramanathan Lakshminarayana, and Rajesh Ramaiah. Founded in 2008, Amagi operates a cloud-native SaaS platform that enables media companies to launch, distribute, and monetize advertising across connected TV (CTV), OTT platforms, and linear television. The company counts several global broadcasters, streaming platforms, and content owners among its customers, with a large portion of its revenue coming from international markets, particularly the US. On the financial front, Amagi has continued to scale rapidly. For the fiscal year ended March 2025 (FY25), the company reported revenue of around Rs 1,162 crore, while significantly narrowing its losses during the year. At the upper end of the price band, Amagi is expected to command a post-issue valuation of over Rs 7,800 crore.

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