Amagi Media's IPO Achieves 30x Oversubscription: A New Era for Cloud-Based Video Streaming

Amagi Media Labs Ltd, a SaaS company specializing in cloud-based video streaming, saw its IPO securing 30.22 times subscription. The company raised Rs 805 crore from anchor investors with a total issue size of Rs 1,788.6 crore. Funds will bolster technology infrastructure and support acquisitions.

Amagi Media Labs Ltd's IPO witnessed an impressive 30.22 times subscription as it closed on Friday. The Bengaluru-based SaaS company's public offering drew substantial interest, receiving bids for over 82.4 million shares, against an available 2.72 million, according to NSE data.

The IPO was highly favored, with non-institutional investors subscribing 37.36 times and qualified institutional buyers 33.77 times. Retail individual investors showed significant interest as well, with their portion subscribed 9.31 times. Prior to the public offering, Amagi secured Rs 805 crore from anchor investors.

Set in a price band of Rs 343-361 per share, the IPO valued Amagi at approximately Rs 7,800 crore at the high end. The company plans to use Rs 550 crore from the fresh issue for enhancing its technology infrastructure, supporting acquisitions, and covering general corporate costs, with phases scheduled through FY28.

(With inputs from agencies.)