Amagi Media Labs will open its Rs 1,789-crore initial public offering (IPO) on January 13. The Bengaluru-based software-as-a-service firm is backed by investors such as Premji Invest, Accel and Norwest Venture.
The price band for the issue has been fixed at Rs 343-361 per share.
According to grey market trackers, the company’s shares are quoting at a premium of 9-11 percent over the issue price. Investorgain has pegged the grey market premium (GMP) at Rs 32, indicating a potential listing gain of about 8.86 percent, while IPO Watch has estimated the GMP at 11.08 percent.
The company aims to raise Rs 816 crore through a fresh issue of shares, while existing shareholders will offload up to 2.69 crore equity shares worth Rs 972.6 crore at the upper end of the price band, as per the red herring prospectus (RHP) filed with the Registrar of Companies on January 7.
The anchor book will open for one day on January 12. The public issue will close on January 16, and the basis of allotment is expected to be finalised on January 19.
Shares of Amagi Media Labs are proposed to be listed on the BSE and NSE on January 21.
Of the total issue size, 75 percent has been reserved for qualified institutional buyers, 15 percent for non-institutional investors and 10 percent for retail investors.
Amagi Media Labs is a cloud-native SaaS provider offering solutions across live production, content preparation, distribution and monetisation for the broadcasting and streaming ecosystem. The company does not have listed peers in India or overseas in this segment.
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