Amagi Media Labs Ltd IPO
Miscellaneous
Price Band
₹343 – ₹361
Lot Size
41
Minimum Bid Quantity
41
Minimum Investment
₹14801
Issue Size
₹1788.62Cr
Opens
2026-01-13
Closes
2026-01-16
Listing
21-01-2026
Subscription Status
Qualified Institutional Buyers
18.82 x
Non-Institutional Investor
29.19 x
Retail Individual Investor
6.1 x
Total
19.35 x
IPO Details
Issue Type
EQUITY
Face Value
₹5
Tick Size
1
ISIN
INE121R01077
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Amagi Media Labs is a software-as-a-service (SaaS) company that provides cloud-based technology for video streaming and advertising in the media and entertainment industry. The company’s platform enables content providers and distributors to upload, manage, and deliver video content over the internet across devices, such as smart televisions, smartphones, and applications. It supports live, scheduled, and on-demand content delivery and integrates workflows for production, preparation, distribution, and monetisation. Amagi also provides advertising technology that allows targeted advertisement delivery and performance measurement. Its offerings are organised into three business divisions: Cloud Modernisation, which supports the transition from on-premise broadcast systems to cloud-based operations; Streaming Unification, which enables multiple OTT business models, including subscription-based, ad-supported, and free streaming; and Monetisation and Marketplace, which supports advertising and content syndication. The company operates through a cloud-native platform and serves content providers, distributors, and advertisers across more than 40 countries. Use of proceeds: The IPO consists of both a fresh issue and an offer for sale (OFS). Net proceeds from the OFS will go to the respective selling shareholders, while the net proceeds from the fresh issue will be utilised for the following purposes: Investment in technology and cloud infrastructure — Rs 550.06 crore. Funding inorganic growth through unidentified acquisitions. General corporate purposes.
Pros
- • Amagi Media Labs claims to offer end-to-end, “glass-to-glass” technology solutions covering the full video value chain, from live content production and preparation to distribution and advertising-based monetisation. Its platform integrates multiple products, such as Amagi Now, Cloudport, Studio, Connect, Ads Plus, and Thunderstorm, to manage live, linear, and on-demand streaming workflows within a single cloud-based system.
- • Amagi Media Labs claims to operate across a three-sided ecosystem of content providers, distributors, and advertisers through its cloud-based platform. It states that it supports content providers by migrating live, linear, and on-demand workflows to the cloud and enabling monetisation through its connected TV (CTV) advertising marketplace, while also offering distributors a content acquisition and distribution marketplace with analytics and personalisation tools. For advertisers, it claims to provide access to context-aware CTV ad inventory and real-time analytics for targeting and performance measurement. The company says this model creates network effects across the three participant groups and states that its customers monetised 18.23 billion advertising impressions for the period ended September 30, 2025.
- • Amagi Media Labs claims to embed predictive and generative AI across its platform under “Amagi Intelligence,” including tools such as Amagi Planner for automated content scheduling and an AI-driven ad yield optimiser for ad monetisation decisions. It also reports multiple industry recognitions (including NAB Show Product of the Year awards in 2024 and a Technology & Engineering Emmy® Award in 2024) and states that, as of September 30, 2025, it had 547 R&D engineers and 10 granted patents.
Cons
- • Despite reporting a consistent increase in revenue from operations, the company incurred a loss over the years. It amounted to Rs 321.27 crore in FY23, Rs 245.00 crore in FY24, and Rs 68.71 crore in FY25. These losses were attributed to expansion-related costs, with employee benefit expenses and communication (including cloud and technology) costs forming major components. While for the six months ending September 2025, the company has shown a profit of Rs 6.47 crore, investors would need to see how this pans out for the full year and beyond.
- • Employee benefit expenses form a major portion of Amagi Media Labs’ cost base, and this can affect its ability to improve operating leverage as revenues scale. Employee benefits accounted for Rs 385.69 crore (54.72 percent) of the company’s revenue for the period ended September 30, 2025; Rs 694.81 crore (59.76 percent) in FY25; Rs 663.42 crore (75.46 percent) in FY24, and Rs 598.71 crore (87.97 percent) in FY23. Any inability to further improve operating leverage could result in the recurrence of losses and adversely affect its business, results of operations, financial condition, and cash flows.
- • The company reported negative cash flow from operating activities amounting to Rs 200.59 crore for the period ended September 30, 2025; Rs 182.99 crore in FY24, and Rs 245.24 crore in FY23. This was mainly attributed to expenses for business expansion and increases in employee-related costs. Additionally, negative cash flow from investing activities amounted to Rs 24.24 crore in FY25; Rs 438.27 crore in FY24, and Rs 257.15 crore in FY23. This was due to acquisitions of Tellyo, Argoid.AI, and Amagi Eastern Europe. The company also reported negative cash flow from financing activities amounting to Rs 38.25 crore for the period ended September 30, 2025; Rs 8.70 crore in FY25, and Rs 7.88 crore in FY24. Investors need to track whether the company is generating adequate operating cash flows to fund day-to-day operations and growth initiatives.
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