Amagi Media Labs files draft papers with Sebi for IPO; key details

Amagi Media Labs Ltd has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The proposed offer includes a fresh issue of equity shares worth up to Rs 1,020 crore and an offer for sale (OFS) of up to 3.41 crore equity shares by existing shareholders.

The software-as-a-service (SaaS) provider intends to deploy Rs 667 crore from the fresh issue towards investment in technology and cloud infrastructure. The remaining proceeds will be used for funding inorganic growth and general corporate purposes.

The OFS will see a partial exit by investor shareholders, including 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 some individual shareholders.

On the financial front, Amagi reported revenue from operations of Rs 1,162 crores in FY25, recording a compound annual growth rate of 30.70 per cent from FY2023 to FY2025, driven by new customer acquisition and increased use of the platform by existing customers. Amagi’s adjusted EBITDA margin improved to 2.02 per cent in FY25, compared to (17.69 per cent) in FY24 and (20.62 per cent) in FY23.

The company, in consultation with the BRLMs, may consider a pre-IPO placement aggregating up to Rs 204 crore; prior to the 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 a pre-IPO placement.

Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India Securities, IIFL Capital, and Avendus Capital are the book-running lead managers for the issue. The equity shares are proposed to be listed on both the BSE and NSE.

Founded in 2008, Amagi is backed by investors including Accel, Norwest Venture Partners, Avataar Ventures, and Premji Invest.