Cloud software firm Amagi has submitted draft documents to the capital markets regulator to raise up to ₹1,020 crore (approximately USD 122 million) through a fresh issue of shares as part of its planned initial public offering (IPO), according to its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI).
Amagi, a Bengaluru-based SaaS company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise up to ₹1,020 crore (USD 122 million) through a fresh issue of shares in its proposed initial public offering (IPO).
The IPO will also feature an offer for sale (OFS) of up to 34.19 million shares by existing stakeholders, including PI Opportunities Fund I and II, Norwest Venture Partners X, Accel India VI, Accel Growth VI Holdings, Trudy Holdings, AVP I Fund, and certain individual shareholders.
Out of the net proceeds from the fresh issue, Amagi intends to allocate ₹667 crore towards strengthening its technology and cloud infrastructure. Amagi will use the remaining funds for potential acquisitions and general corporate purposes.
Founded in 2008 and headquartered in Bengaluru, Amagi offers cloud-native video distribution and monetisation solutions to broadcasters, content owners, and streaming platforms. The Cloud software company claims to serve more than 45% of the top 50 global media and entertainment companies by revenue.
Amagi is backed by prominent investors such as Accel, Norwest, Avataar Ventures, and Premji Invest. For FY25, it reported revenue from operations of ₹1,162 crore—up from ₹681 crore in FY23—reflecting a compound annual growth rate (CAGR) of 30.7%. Its adjusted EBITDA margin turned positive at 2.02% in FY25, after posting negative margins in the previous two fiscal years.
The company may also pursue a pre-IPO placement of up to ₹204 crore, which would reduce the size of the fresh issue accordingly.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India, IIFL Capital, and Avendus Capital are acting as the book-running lead managers for the offering. The company plans to list its equity shares on both the BSE and NSE.
