Amagi Media Labs, the ad-tech and SaaS platform focused on connected TV and digital video advertising, has raised ₹805 crore from marquee anchor investors. The ₹1,788.62-crore initial public offering (IPO), the first ad-tech and SaaS IPO of calendar year 202, opens for bidding today.

As per exchange filings, the Bengaluru-headquartered company allotted 2.22 crore equity shares to 42 anchor investors at ₹361 per share, the upper end of the price band, aggregating to around ₹805 crore.

The anchor book saw strong participation from domestic institutional investors (DIIs), with the top three mutual fund houses - SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund -accounting for nearly 40% of the total anchor allocation.

Data showed that Amagi’s anchor book included a mix of 35 resident and seven non-resident investors, spanning domestic and foreign mutual funds, long-only institutional investors, and insurance companies. Other anchor investors include Birla Mutual Fund, Fidelity, Motilal Oswal Mutual Fund, HDFC Life Insurance, Tata Mutual Fund, Franklin Templeton Mutual Fund, 360One, Baroda BNP Paribas Mutual Fund, Amundi, PGIM Mutual Fund, Bandhan Mutual Fund, Susquehanna International Group (SIG), Bharti AXA, Isometry Capital, Société Générale, Goldman Sachs, Creaegis, Edelweiss Tokio Life Insurance, New Vernon Capital, and Helios (including its mutual fund arm), among others.

IPO timeline

The Amagi Media Labs IPO comprises a fresh issue of 2.26 crore equity shares worth ₹816 crore and an offer for sale of 2.69 crore shares worth ₹972.62 crore by existing shareholders and promoters. The issue opens for public subscription on January 13, 2026, and will close on January 16, 2026, with the bidding period extended to four days due to local municipal elections in Maharashtra.

The price band has been fixed at ₹343–₹361 per share, with a lot size of 41 shares. At the upper end of the band, the minimum retail investment stands at ₹14,801. The company has reserved 75% of the issue for qualified institutional buyers (QIBs), while non-institutional investors (NIIs) will get up to 15%, and retail investors up to 10%.

The allotment of Amagi Media shares is expected to be finalised on January 19, 2026, with the stock is likely to list on the BSE and NSE on January 21, 2026.

IPO proceeds to fund tech, cloud infra

The company intends to use the IPO proceeds for technology investments and cloud infrastructure expenses, funding inorganic growth through unidentified acquisitions, and general corporate purposes, as per the DRHP filed with Sebi. It proposes to invest ₹550.06 crore in technology and cloud infrastructure, while remaining capital will be used for funding inorganic growth opportunities and general corporate purposes.

Founded in 2008, Amagi provides end-to-end solutions for content creation, distribution, and monetisation across traditional television and streaming platforms. Its cloud-native technology enables broadcasters, content owners, and streaming platforms to launch, manage, and monetise live linear channels on FAST platforms such as Pluto TV, Samsung TV Plus, and Roku Channel, among others. It has built a strong international footprint, particularly in the United States, Europe, and Asia, serving over 700 content brands and supporting more than 2,000 channel deployments across 100+ countries.

For the six months ended September 30, 2025, the company reported total income of ₹733.93 crore and profit after tax of ₹6.47 crore, compared with a loss of ₹68.71 crore in FY25. The company reported higher losses of ₹245 crore in FY24 and ₹321.27 crore in FY23.

At the operating level, EBITDA improved to ₹58.23 crore in the first half of FY26, compared with ₹23.49 crore in FY25, while the company had reported negative EBITDA in FY24 and FY23.

The company’s net worth stood at ₹859.34 crore as of September 30, 2025, up sharply from ₹509.45 crore at the end of FY25, supported by improving operating cash flows and balance-sheet strengthening.

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