Bilkul Bazaar
Leading brokerages have recommended subscribing to Amagi Media Labs’ Rs 1,789 crore IPO in their IPO notes . The issue closes for subscription on Friday, January 16 , 2026.
BP Equities , which has given a subscribe rating to the issue , said in its report that Amagi operates through three core business verticals – Cloud Modernization, Streaming Unification , and Monetization and Marketplace – and follows a “Win, Expand, Extend” framework to drive efficient expansion and long-term sustainable growth. On the financial front , Amagi has delivered strong and consistent growth , with a 30.7% CAGR in operating income between FY23 and FY25 , high net revenue retention of 127% , increased gross margin and improved operating leverage.
Anand Rathi , who has also recommended subscribing to the IPO , noted that Amagi’s continued investments in R&D to enhance scalability , automation , performance and user experience further solidify its position as the “industry cloud” for video in the media and entertainment sector.
Recommending a “Subscribe to benefit at listing” rating , Arihant Capital said in its brokerage note that Amagi is well positioned to benefit as audiences and advertisers globally continue to shift towards connected TV and FAST platforms. Its end-to-end , cloud-native platform and AI – driven capabilities are expected to support deep penetration across consumer segments, high monetization and sustained revenue growth. Strong customer retention , expanding global adoption and ongoing investments in technology and data analytics will enable the company to scale efficiently , while strengthening its role as a long-term technology partner for media companies.
Additionally , the IPO notes of SMIFS, Deven Choksi , Nirmal Bang , Mehta Equities , Lakshmishri and Sushil Finance also recommend subscribing to the IPO.
Amagi Media Labs raised Rs 805 crore from 42 anchor investors ahead of its initial share sale that opened for subscription on Monday, January 13.
The top three domestic mutual funds, namely SBI Mutual Fund , ICICI Prudential Mutual Fund and HDFC Mutual Fund, accounted for the majority of the anchor portion allocation, accounting for nearly 40 per cent of the total anchor book. Amagi is one of the rare issues where all three leading consortium fund houses have participated as anchors.