Media-Tech SaaS Major Eyes Public Markets Amid Strong Growth and Investor Interest
Ahmedabad | 10 January 2026
Amagi Media Labs Limited, a leading global media technology and advertising SaaS company, has announced that its initial public offering (IPO) will open for subscription on Tuesday, January 13, 2026, and close on Friday, January 16, 2026. Anchor investor bidding is scheduled for Monday, January 12, 2026.
The company has fixed the price band at ₹343 to ₹361 per equity share, each having a face value of ₹5. Investors can apply for a minimum of 41 equity shares and in multiples thereafter, translating into a minimum application amount of ₹14,801 at the upper end of the price band.
IPO Structure and Size
The IPO comprises a fresh issue aggregating up to ₹8,160 million (₹816 crore) and an offer for sale of up to 26,942,343 equity shares by existing shareholders.
Major selling shareholders in the offer for sale include PI Opportunities Fund I & II, Accel India VI (Mauritius) Ltd, Trudy Holdings, Norwest Venture Partners X – Mauritius, along with individual shareholders including company founders and early executives.
Post allotment, the equity shares are proposed to be listed on BSE Limited and National Stock Exchange of India Limited, with a tentative listing date of January 21, 2026.
The book-running lead managers to the issue are 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.
Grey Market Premium and Market Sentiment
As of January 9, 2026, Amagi’s IPO is witnessing a grey market premium (GMP) of ₹43, implying an estimated listing price of around ₹404 per share, representing a premium of nearly 11.91% over the upper end of the price band. Market participants attribute this enthusiasm to strong demand for scalable, deep-technology SaaS platforms within the global media and advertising ecosystem.
Financial Performance
Amagi has reported robust growth in recent years. Revenue increased by 29.83% from ₹942.24 crore in FY24 to ₹1,223.31 crore in FY25. Net losses narrowed significantly to ₹68.71 crore in FY25 compared with ₹245.00 crore in FY24, while EBITDA turned positive at ₹23.49 crore during the year.
Although the company remains loss-making, analysts highlight improving operating leverage and a visible path toward profitability. Based on FY25 earnings, the IPO implies a negative pre-issue P/E of -101.78, underscoring its growth-stage profile.
Baskar along with Vijay N P, CFO of the company and Anuj Damani from HFL Capital Services were present at the press meet in Ahmedabad on Friday. Baskar and Vijay elaborately presented the IPO details before the media.
Leadership Commentary
Commenting on the IPO, Baskar Subramanian, Co-founder, Managing Director and CEO, said that Amagi was founded on the belief that technology built with freedom of thought and strong cultural values can fundamentally transform how media is created and monetized. He added that the IPO marks a significant milestone as the company continues to build a global, software-first organization driven entirely by deep technology and innovation.
Founded by Baskar Subramanian, Srividhya Srinivasan, and Srinivasan KA (Arunachalam Srinivasan Karapattu)—three classmates who went on to build a global media-tech platform—Amagi is a software-as-a-service company connecting media companies to audiences through cloud-native solutions.
Headquartered in Bengaluru, with 14 offices worldwide, Amagi derives nearly 90% of its revenue from the US and UK markets. The company operates with minimal capital expenditure, focusing entirely on software and deep technology. It serves 460+ customers globally, is trusted by 45% of the world’s top 50 media companies, and powers:
- 7,000+ channel deliveries
- 300+ content distributors
- 500,000+ hours of processed content
- 26 billion+ monetized ad impressions
With over 850 employees globally, including 80+ engineers dedicated to R&D, Amagi is a market leader in FAST (Free Ad-Supported Streaming TV) and cloud playout, operating a three-sided ecosystem spanning content, distribution, and advertising.
Outlook
Analysts remain constructive on Amagi’s long-term growth prospects, citing its leadership in the FAST and media SaaS space, strong global client base, and improving financial metrics. While near-term profitability remains a key monitorable, the IPO is viewed as an attractive opportunity for investors seeking exposure to technology-led media platforms with global scale.
Registrar to the Issue: MUFG Intime India Pvt. Ltd.
Allotment Date: January 19, 2026
Disclaimer: This news is for informational purposes only. Please refer to official offer documents and consult a financial advisor before investing.
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