Amagi Files IPO Papers To Raise INR 1,020 Cr

Media-focused SaaS unicorn Amagi Media Labs has filed draft red herring prospectus (DRHP) with the markets regulator SEBI to raise INR 1,020 Cr in an initial public offering (IPO).

As per the company’s DRHP, it will raise INR 1,020 Cr via the issue of fresh shares. The IPO will also consist of an offer for sale (OFS), where the stakeholders will offload 3.41 Cr shares.

Besides, the company will also consider raising a pre-IPO placement round of up to INR 204 Cr. If Amagi raises funds in the pre-IPO placement, the amount will be reduced from the fresh issue, the DRHP added.

Amagi will deploy the fresh funds in enhancing its technology and cloud infrastructure as well as undisclosed acquisitions to fuel inorganic growth.

The development comes months after Amagi transitioned into a public entity.

The DRHP further highlighted that Amagi’s backers, including Norwest Venture Partners, Accel India, Trudy Holdings, Premji Invest, Avaatar Ventures Partners and a host of angel investors, including Prem Gupta, Rahul Garg, Rajesh Ramaiah, Rajat Garg and Kollengode Ramanathan Lakshminarayana are offloading shares via the OFS route.

Out of these Premji Invest is looking to offload the highest chunk of shares. The VC firm has offered to sell a maximum of 1.42 Cr equity shares.

In May, the company also onboarded former Microsoft executive Ira Gupta and former IHCL CFO Giridhar Sanjeevi as independent directors of the company.

Founded in 2008 by Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers a full stack cloud suite for clients to create, distribute and monetise content globally. It also offers broadcast and targeted advertising solutions for broadcast and streaming TV platforms.

Currently, all the three founders collectively hold 14.05% stake in the company.

Amagi turned a unicorn in 2022 after raising $95 Mn in a funding round led by Accel.

On the financial front, Amagi managed to trim down its net loss by nearly 72% to INR 68.7 Cr in the financial year ended in March 2025 (FY25), against INR 245 Cr in the loss incurred by the company in the previous fiscal.

Its revenue from operations jumped 32.2% to INR 1,162.6 Cr in the fiscal under review from INR 879 Cr in FY24.

“..57.14% of our revenue from operations for the financial year 2025 was attributable to our streaming unification solutions and any factors that adversely affect this business division could adversely affect our business, results of operations, financial condition and cash flows,” the DRHP added.

Now, Amagi has joined the queue of new age tech companies including Wakefit, Pine Labs, Curefoods, Capillary Technologies, Shadowfax, Shiprocket and Urban Company—- which also have their draft papers with SEBI, and are now awaiting approval to launch their public issues. On the other hand, edtech giant Physics Wallah recently got SEBI’s nod for its $531 Mn IPO.

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