Amagi Media Labs, a cloud-native SaaS provider offering end-to-end solutions across live production, content preparation, distribution, and monetization in the broadcasting and streaming ecosystem, has raised Rs 804.87 crore from 42 anchor investors on January 12, a day before the IPO opening.
The Bengaluru-based company approached capital markets to mop up nearly Rs 1,789 crore via IPO at the upper end of price band of Rs 343-361 per share. The IPO is a combination of fresh issuance of shares worth Rs 816 crore, and an offer-for-sale of 2.69 crore shares amounting to Rs 973 crore by existing shareholders including Azim Premji-led PI Opportunities Fund, Accel India, Trudy Holdings, and Norwest Venture Partners.
Amagi Media Labs on Monday has finalised allocation of 2.22 crore equity shares to anchor investors at the upper price band.
Out of the total allocation to anchor investors, 1.69 crore equity shares worth Rs 613 crore were allocated to 11 domestic mutual funds including SBI Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life AMC, HDFC AMC, Motilal Oswal AMC, Franklin India, PGIM India, and Helios.
Insurance companies - HDFC Life Insurance, Bharti Axa Life Insurance, and Edelweiss Life Insurance - also picked up 14.95 lakh shares in Amagi for Rs 53.98 crore.
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Apart from these above-mentioned investors, Societe Generale, Goldman Sachs, 360 ONE, Amundi Funds, Creaegis Transformations Fund, New Vernon India, and Fidelity Funds also invested in the company via anchor book.
SBI Mutual Fund, ICICI Prudential and Aditya Birla Sun Life AMC were the largest investors in the book, each acquiring 31.85 lakh shares worth Rs 115 crore.
The Amagi Media Labs IPO will open for public subscription on January 13 and close on January 16.
The company will spend Rs 550 crore of fresh issue proceeds for technology and cloud infrastructure, and the remaining funds for inorganic growth through unidentified acquisitions and general corporate purposes.
Founded in 2008, Amagi Media Labs helps content providers and distributors upload and deliver video over the internet through smart televisions, smartphones and applications, instead of traditional cable or set-top box services. It also helps monetize such content through targeted advertising services for advertisers.
Kotak Mahindra Capital Company, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital are acting as book running lead managers for the Amagi Media Labs IPO.
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