Funding inorganic growth through unidentified acquisitions and general corporate purposes
The offer includes sale of 26,942,343 equity shares. The company will not receive any proceeds from the Offer for Sale.
Our View
Incorporated in 2008 and headquartered in Bengaluru, Amagi enables TV networks, content owners and digital platforms to seamlessly launch, manage, distribute and monetize live, linear and on-demand content across cable, OTT and FAST platforms.
As of September 30, 2025, the company served over 400 content providers, over 350 distributors and over 75 advertisers across more than 40 countries. Amagi offers comprehensive glass-to-glass technology solutions spanning the entire video value chain.
Risks include intense competition, past losses and negative cash flows, dependency on large clients, geographic concentration (U.S. exposure), reliance on third-party cloud infrastructure, regulatory risks, ad market cyclicality, privacy and security concerns, and rising employee costs.
Financially, revenue grew at a CAGR of 30.7% between FY23–FY25 while PAT remained negative. The company turned profitable in H1FY26 with EBITDA and PAT margins of 8.26% and 0.88% respectively. The company carries zero debt.
At the upper price band of ₹361, the post-issue market capitalisation is approximately ₹7,810 Cr. The IPO is priced at a P/BV of 8.61 (NAV ₹41.93 as of September 30, 2025) and at an implied P/E of ~603x on annualised FY26 earnings, indicating a very premium valuation.
Amagi has positioned itself within a three-sided marketplace with strong network effects and remains the only SaaS provider offering end-to-end solutions across live production, content preparation, distribution and monetization. Aggressive investors may invest with a long-term horizon.
Frequently Asked Questions (FAQs)
When does the Amagi IPO open and close?
The IPO opens on January 13, 2026 and closes on January 16, 2026.
What is the price band and lot size?
The price band is ₹343–361 with a lot size of 41 shares.
What does Amagi Media Labs do?
Amagi provides cloud-native, end-to-end SaaS solutions for video production, distribution and monetization.
Why is the IPO priced at a premium?
The IPO valuation reflects strong revenue growth, network effects and unique end-to-end SaaS positioning.
Who should consider investing?
Aggressive investors with a long-term horizon and high risk appetite may consider investing.
Brief Financials
| PARTICULARS |
₹ in Million |
As at
June 30, 2025 |
FY ‘25 |
FY ‘24 |
FY ‘23 |
| Total Income |
7,339.32 |
12,233.10 |
9,422.38 |
7,247.17 |
| Total Expenditure |
7,222.82 |
12,748.49 |
11,791.81 |
10,395.87 |
| EBITDA |
245.44 |
(298.51) |
(2,153.11) |
(3,026.53) |
| Profit before Tax |
116.50 |
(515.39) |
(2,369.43) |
(3,148.70) |
| Profit after Tax |
64.70 |
(687.14) |
(2,450.01) |
(3,212.68) |
| E.P.S. (Diluted) |
0.32* |
(3.48) |
(12.52) |
(17.22) |
| P/E (x) (Diluted) |
- |
- |
- |
- |
| RONW (%) |
26.11* |
69.44 |
17.75 |
6.70 |
*Not annualised for the three months ended September 30, 2025.
PRICE CHART (@ ₹ 23) (Retail Category)
| LOT SIZE |
| Amount |
| 41 |
14,801 |
| 82 |
29,602 |
| 123 |
44,403 |
| 164 |
59,204 |
| 205 |
74,005 |
| 246 |
88,806 |
| 287 |
103,607 |
| 328 |
118,408 |
| 369 |
133,209 |
| 410 |
148,010 |
| 451 |
162,811 |
| 492 |
177,612 |
| 533 |
192,413 |
HNI Payment Chart
| Category |
| No. of Shares |
Minimum Bid Lot Amount (Rs.) |
| Small HNI |
574 |
207,214 |
| Big HNI |
2,788 |
1,006,468 |
Indicative Time Table
| Tentative Events |
| Indicative Dates |
| Finalisation of Basis of Allotment with the Designated Stock Exchange |
19/1/2026 |
| Initiation of refunds/unblocking ASBA Fund |
20/1/2026 |
| Credit of Equity Shares to demat accounts of Allottees |
20/1/2026 |
| Commencement of trading of the Equity Shares on the Stock Exchanges |
21/1/2026 |
Disclaimer:
The content provided in this blog is for informational and educational purposes only and should not be construed as investment, legal, or tax advice. While Sushil Finance makes reasonable efforts to ensure accuracy and reliability of the information, we do not guarantee its completeness or timeliness. Readers are advised to consult with their financial advisor before making any investment decisions. Sushil Finance shall not be held responsible for any direct or indirect loss arising from use of this content. Investments in securities are subject to market risks. Read all scheme-related documents carefully before investing.
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