Cloud software firm Amagi Media Labs has filed draft papers with the Securities and Exchange Board of India to launch its initial public offering ( IPO).
The Bengaluru-based company plans to raise Rs 1,020 crore through a fresh issue, while investors including Norwest Venture Partners, Accel and Premji Invest will offload up to 34.2 million shares via an offer for sale (OFS).
Individual shareholders, such as Prem Gupta, Rahul Garg, Rajesh Ramaiah, Rajat Garg and Kollengode Ramanathan Lakshminarayana, will also sell part of their stakes through the OFS.
In the draft IPO papers, Amagi said it will use Rs 667.2 crore from the fresh issue to invest in technology and cloud infrastructure, with the remaining funds earmarked for inorganic growth opportunities and general corporate purposes.
Founded in 2008 by Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers cloud-based software tools that help TV networks, content owners and streaming platforms launch, manage, distribute and monetise live, linear and on-demand content across cable, over-the-top and free ad-supported streaming TV platforms. Its technology enables the delivery of video content to smart TVs, smartphones and apps, removing the need for traditional cable or set-top boxes.
Amagi counts companies such as Lionsgate Studios, Vevo, Sinclair Broadcast Group, E W Scripps, Fox, Stingray, Network18 and Shemaroo among its clients.
The company reported operating revenue of Rs 1,162.60 crore for 2024-25, up from Rs 879.10 crore in the previous financial year. Its loss narrowed to Rs 68.70 crore from Rs 245 crore during this period.
India’s SaaS sector crossed $15 billion in annual revenue in 2023-24, driven by an increasing number of companies crossing $100 million in annualised recurring revenue, according to a recent report by JM Financial.
However, globally, SaaS companies have seen a sharp correction in valuations, particularly among horizontal players that serve multiple industries. This shift has been primarily driven by investor preference moving from “growth at all costs” to free cash flow and profitability.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services and Avendus Capital are the book running lead managers for the issue.
The Bengaluru-based company plans to raise Rs 1,020 crore through a fresh issue, while investors including Norwest Venture Partners, Accel and Premji Invest will offload up to 34.2 million shares via an offer for sale (OFS).
Individual shareholders, such as Prem Gupta, Rahul Garg, Rajesh Ramaiah, Rajat Garg and Kollengode Ramanathan Lakshminarayana, will also sell part of their stakes through the OFS.
In the draft IPO papers, Amagi said it will use Rs 667.2 crore from the fresh issue to invest in technology and cloud infrastructure, with the remaining funds earmarked for inorganic growth opportunities and general corporate purposes.
Founded in 2008 by Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers cloud-based software tools that help TV networks, content owners and streaming platforms launch, manage, distribute and monetise live, linear and on-demand content across cable, over-the-top and free ad-supported streaming TV platforms. Its technology enables the delivery of video content to smart TVs, smartphones and apps, removing the need for traditional cable or set-top boxes.
Amagi counts companies such as Lionsgate Studios, Vevo, Sinclair Broadcast Group, E W Scripps, Fox, Stingray, Network18 and Shemaroo among its clients.
The company reported operating revenue of Rs 1,162.60 crore for 2024-25, up from Rs 879.10 crore in the previous financial year. Its loss narrowed to Rs 68.70 crore from Rs 245 crore during this period.
India’s SaaS sector crossed $15 billion in annual revenue in 2023-24, driven by an increasing number of companies crossing $100 million in annualised recurring revenue, according to a recent report by JM Financial.
However, globally, SaaS companies have seen a sharp correction in valuations, particularly among horizontal players that serve multiple industries. This shift has been primarily driven by investor preference moving from “growth at all costs” to free cash flow and profitability.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services and Avendus Capital are the book running lead managers for the issue.
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