Amagi Media Labs Seeks Funding through IPO
Cloud-based SaaS company Amagi Media Labs has filed its preliminary papers with SEBI to raise funds through an initial public offering. The proposed IPO of the Bengaluru-headquartered company includes a fresh issue of shares worth Rs 1,020 crore.
Offer Details
The IPO also consists of an offer for sale of 3.41 crore shares by the selling shareholders, as per the draft red herring prospectus filed on Friday.
Shareholder Actions
As part of the offer for sale, investors and certain individual shareholders will be offloading shares.
Pre-IPO Placement
Amagi may consider a pre-IPO placement to raise Rs 204 crore, impacting the fresh issue size.
Utilization of Funds
The company plans to use the proceeds for technology investments, acquisitions, and general corporate purposes.
About Amagi Media Labs
Founded in 2008, Amagi is supported by prominent venture capital firms and serves a significant portion of top ‘media and entertainment’ companies in revenue. The company specializes in cloud-native technology to connect media companies with audiences and facilitate video streaming on various platforms.
Business Structure
Amagi operates through cloud modernisation, streaming unification, and monetization and marketplace segments.
Financial Performance
In the previous fiscal year, Amagi reported a revenue of Rs 1,162 crore with a 31% growth rate from fiscal 2023.
IPO Details
Kotak Mahindra Capital Company, Citigroup Global Markets India, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services, and Avendus Capital will manage the company’s IPO, with listing planned on BSE and NSE.
For more information, you can visit the official SEBI website here.
