Amagi Media Labs Limited, the Bengaluru-based SaaS provider that enables global media companies to deliver cloud-native video and streaming services, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The regulatory clearance appeared in SEBI’s latest update on Monday, marking a key milestone for one of India’s highest-valued enterprise tech companies.
The IPO will include a fresh issue of equity shares worth up to ₹1,020 crore and an offer for sale (OFS) of up to 3.41 crore shares, according to the draft red herring prospectus (DRHP). Selling shareholders in the OFS include PI Opportunities Fund I & II, Norwest Venture Partners X – Mauritius, Accel India VI, Accel Growth VI Holdings, Trudy Holdings, AVP I Fund and several individual investors.
As outlined in the DRHP, Amagi plans to allocate ₹667 crore from the fresh issue toward expanding its technology stack and cloud infrastructure. The remaining funds will support acquisitions and general corporate requirements. The company had filed its draft papers in July 2025 and received SEBI’s final observations on November 18, which serves as the regulator’s green signal to launch the IPO.
Founded in 2008 by Baskar Subramanian, Srividhya Srinivasan and Arunachalam Srinivasan Karapattu, Amagi counts Accel, Avataar Ventures, Norwest and Premji Invest among its marquee backers. The company positions itself as an end-to-end, AI-powered cloud platform for the media and entertainment ecosystem, spanning cloud modernization, streaming infrastructure and monetization.
Amagi works with over 45% of the world’s top 50 media companies and reported ₹1,162 crore in revenue for FY25, reflecting a CAGR of 30.7% over two years. The firm may also explore a pre-IPO placement of up to ₹204 crore. Leading banks including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital and Avendus Capital are managing the issue, with plans to list on both BSE and NSE.
