Amagi Media Labs IPO opens Jan 13: Mixed analyst views; should you apply?
Amagi Media Labs has set the price band in the range of ₹343 to ₹361, with a lot size of 41 shares
 "Amagi Media Labs IPO opens Jan 13: Mixed analyst views; should you apply?")
Amagi Media Labs IPO: The initial public offering (IPO) of Amagi Media Labs, a Bengaluru-based SaaS company, is scheduled to open for public subscription on Tuesday, January 13, 2026. The ₹1,778.62 crore public offer comprises a fresh issue of 22.6 million equity shares and an offer for sale (OFS) of 26.9 million equity shares.
Under the OFS, PI Opportunities Fund, Accel India, Trudy Holdings, Norwest Venture Partners, Rahul Garg, Rajat Garg, Kollengode Ramanathan Lakshminarayana, Prem Gupta, and Rajesh Ramaiah are the selling shareholders.
Amagi Media Labs IPO will close for subscription on Friday, January 16, 2026. The company's shares will make their debut on the exchanges, NSE and BSE, tentatively on Wednesday, January 21, 2026.
The company has set the price band in the range of ₹343 to ₹361, with a lot size of 41 shares. A retail investor would require a minimum investment of ₹14,801 to bid for at least one lot and in multiples thereafter.
MUFG Intime India is the registrar for the issue. Kotak Mahindra Capital Company, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital are the book-running lead managers.
As per the red herring prospectus (RHP), the company proposes to utilise ₹550 crore from the net fresh issue for expenses towards technology and cloud infrastructure. The remaining funds will be used for inorganic growth through unidentified acquisitions and general corporate purposes.
Amagi Media Labs IPO: Should you apply or not?
Arihant Capital - Subscribe for listing gains
According to analysts at Arihant Capital, Amagi is well-positioned to benefit from the continued shift of audiences and advertisers toward connected TV and FAST platforms globally. The company's end-to-end, cloud-native platform and AI-driven capabilities are expected to support deeper customer penetration, higher monetisation, and sustained revenue growth.
"Strong customer retention, expanding global adoption, and ongoing investments in technology and data analytics should enable the company to scale efficiently while strengthening its role as a long-term technology partner for media companies," the brokerage said in its note.
At the upper end of the price band of ₹343 to ₹361, the issue is valued at a Price/Sales ratio of 6.4x, based on FY25 revenue. Arihant Capital has assigned a 'Subscribe for Listing Gains' rating for this issue. ALSO READ | Bharat Coking Coal IPO 8x booked on strong demand; should you bid too?
SBI Securities - Neutral
According to SBI Securities, Amagi Media Labs appears on the verge of turning profitable for the full year FY26 based on the H1FY26 financials. "However, the underlying global Media & Entertainment industry is undergoing consolidation, especially in AMLL’s primary market of North America, which could potentially impact pricing power for Amagi," analysts said.
"At the upper end price, the IPO is priced at 6.7x FY25 P/S based on post-issue capital. We assign a 'Neutral' rating to the issue," it added. However, the brokerage would like to track the performance of the company for a few quarters post-listing.
Anand Rathi Shares - Subscribe for long term
Analysts at Anand Rathi Shares and Stock Brokers said, the company has turned profitable in H1FY26 and, supported by strong operating leverage, is well-positioned to deliver full year profitability in FY26.
"Continued investments in R&D to enhance scalability, automation, performance, and user experience further reinforce its positioning as the “industry cloud” for video in the media and entertainment space," the brokerage said.
Citing these factors, the brokerage said the IPO appears fully priced and is recommended as 'Subscribe - Long term'.
Amagi Media Labs IPO GMP
On Monday, the unlisted shares of Amagi Media Labs were trading at ₹378 in the unofficial markets, commanding a grey market premium of ₹17 or 4.71 per cent against the upper end price of ₹361, according to sources tracking unofficial markets.