IPO · Consumer Internet & Media

Amagi lists as first new-age tech IPO of 2026

By Startup Enthusiast · 8 January 2026

What they do

Amagi provides a cloud-native SaaS platform that connects broadcasters and streaming platforms to audiences

Its INR 1,788.6 Cr IPO opened on 13 Jan 2026, was oversubscribed 30X, and listed on 21 Jan at a 12% discount

The listing valued the company at INR 7,528.6 Cr, a 37% cut from its last private valuation of $1.4 Bn

Amagi, a cloud-native SaaS platform for the media industry, launched its IPO on 13 Jan 2026 and closed on 16 Jan 2026.
The IPO size was INR 1,788.6 Cr (about $200 Mn) at the upper price band of INR 361 per share.
It comprised a fresh issue of INR 816 Cr and an offer-for-sale (OFS) of 2.69 Cr shares worth INR 973 Cr.
The IPO was oversubscribed 30 times overall, with strong demand from mutual funds.
Anchor investors raised INR 805 Cr, with mutual funds accounting for 76% of that amount.
The company listed on 21 Jan 2026 on BSE and NSE at INR 317 and INR 318 respectively, a 12% discount to the issue price.

The IPO valuation of INR 7,966 Cr (about $885 Mn) was a 37% cut from its last private valuation of $1.4 Bn.
The company turned profitable in H1 FY26 with a net profit of INR 6.5 Cr, compared to a loss of INR 66 Cr a year earlier.
Brokerage SBI Securities rated the IPO 'Neutral', citing consolidation in the global media and entertainment industry, especially in North America.

Amagi provides a cloud-native SaaS platform for the media industry, connecting broadcasters, streaming platforms, and content owners to audiences.
The company ingests video content, processes it (quality check, subtitling, adaptation), packages it for broadcasters and digital platforms, delivers streams, and monetizes via ad insertion (programmatic and direct).

The company plans to use INR 550 Cr of the IPO proceeds for technology and cloud infrastructure.
The remaining proceeds will be used for unidentified acquisitions.

Premji Invest (seller) — Largest selling investor, offloaded 1.33 Cr shares (26.55% stake), with a return of about 16.8X to 26.3X.
Accel (seller) — Sold 50.72 Lakh shares, with a return of about 3.3X.
Norwest Venture Partners (seller) — Sold 33.81 Lakh shares (reduced from 79.05 Lakh in DRHP), with a 2.1X return.
Trudy Holdings (seller) — Sold 50.72 Lakh shares (increased from 30.26 Lakh in DRHP), with a return of about 3.2X.
Rahul Garg (seller) — Sold 60,000 shares.
Rajat Garg (seller) — Sold 22,725 shares.
AVP Fund-I (Avataar Venture Partners) (seller) — Withdrew entire OFS of 18.65 Lakh shares; sold stake to Vinculum Advisors LLP in July.