Amagi secures Rs 805 crore from anchor investors; public issue opens today

Amagi Media Labs has garnered Rs 805 crore from anchor investors at the upper end of its IPO price band, even as its initial public offering opened today.

The adtech unicorn allotted around 2.22 crore equity shares to 42 anchor investors at Rs 361 per share. The anchor book saw participation from a strong mix of domestic mutual funds and global institutional investors, reflecting robust pre-IPO demand for the issue.

Among the domestic investors participating in the anchor round were SBI Mutual Fund, ICICI Prudential Mutual Fund, HDFC Mutual Fund, Tata Mutual Fund, Motilal Oswal Mutual Fund and Franklin Templeton. Global institutions such as Goldman Sachs, Societe Generale and Fidelity also featured in the allotment, media reports said. Domestic mutual funds are understood to have secured a meaningful portion of the anchor allocation.

The top three domestic mutual funds - SBI MF, ICICI Prudential MF, and HDFC MF have picked up the majority of Amagi’s anchor portion allocation – around 40% of total anchor book. Amagi is one of the rare instances where all three leading consortium fund houses have come in as anchors, stated a press release.

Founded in 2008, Amagi Media Labs became a unicorn in 2022 following a $100 million funding round led by General Atlantic. Headquartered in Bengaluru, the company provides cloud-based software solutions to content owners and television networks, enabling them to move away from hardware-intensive broadcast systems to modern, software-defined advertising and content management environments, with a strong focus on connected TV and streaming platforms.

The company’s Rs 1,789-crore IPO comprises a fresh issue of shares worth Rs 1,020 crore and an offer-for-sale of around 3.41 crore equity shares by existing shareholders. Proceeds from the fresh issue will be used to strengthen Amagi’s technology and data infrastructure, expand its global footprint and pursue potential inorganic opportunities. The OFS component will allow partial exits for early and growth-stage investors. Amagi is backed by investors including Norwest Venture Partners, Premji Invest, Accel and General Atlantic.

The public issue will close on January 16. The lot size has been fixed at 41 shares, translating into a minimum retail investment of approximately Rs 14,800 at the upper end of the price band.

On the financial front, the company has reported a marked improvement in its loss profile. Amagi posted a net loss of Rs 68.7 crore in FY25, sharply lower than the Rs 245 crore loss recorded in FY24. Operating revenue grew 32.2 percent year-on-year to Rs 1,162.6 crore in FY25, compared with Rs 879.2 crore in the previous fiscal.

The strong anchor response, narrowing losses and continued revenue momentum come at a time when investor interest in adtech and connected TV-led platforms remains buoyant, placing Amagi among the closely watched technology IPOs this year.