Amagi Media Labs, which offers cloud-based software as a service (SaaS) solution for broadcast and video content, has filed preliminary papers with Securities and Exchange Board of India (SEBI) seeking its approval to raise funds through an initial public offering (IPO). The proposed IPO of the Bengaluru-headquartered company combines a fresh issue of shares worth Rs 1,020 crore along with an offer for sale (OFS) of 3.41 crore shares by the selling shareholders.
The company proposes to utilize proceeds from the fresh issue worth Rs 667 crore towards investment in technology and cloud infrastructure, a portion will be used for funding inorganic growth through unidentified acquisitions and general corporate purposes. Kotak Mahindra Capital Company, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital have been roped in to manage the company's IPO. The equity shares of the company are proposed to be listed on BSE and NSE.
Founded in 2008, Amagi is backed by leading venture capital firms, including Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest. The company works with more than 45 per cent of the top 50 listed 'media and entertainment' companies by revenue.
