Last day! Amagi Media IPO closes today; subscription rises 4x, GMP 7%

Amagi Media's unlisted shares were trading at ₹388, reflecting a grey market premium of ₹27 or 7.5 per cent above the upper end price

Amagi Media Labs IPO subscription status Day 3: The subscription window to bid for the initial public offering (IPO) of Amagi Media Labs, a Bengaluru-based SaaS company, is set to close today, January 16, 2026, after a three-day bidding period that began on Tuesday, January 13, 2026. So far, the maiden public issue has received a muted response from investors. 

 

According to National Stock Exchange (NSE) data, the Amagi Media Labs IPO has received bids for 108.74 million equity shares, against 27.26 million shares on offer, resulting in an overall subscription of around 4 times, as of 12:51 PM on Friday.

 

 

Among investor categories,Non-Institutional Investors (NIIs) showed the highest demand, subscribing to their allocated quota by 7.26 times. The Qualified Institutional Buyers (QIBs) segment was subscribed to 2.82 times, while the retail investors category witnessed a subscription of 2.44 times.

Amagi Media Labs IPO GMP

According to sources tracking unofficial markets. Amagi Media’s unlisted shares were trading at ₹388, reflecting a grey market premium of ₹27 or 7.5 per cent above the upper end of the price band of ₹343 to ₹361.

Amagi Media Labs IPO review

Anand Rathi has recommended the issue as 'Subscribe – Long Term,' citing the company’s post-issue market capitalisation of ₹78,098 million at the upper price band, its H1 FY26 profitability, and strong operating leverage. The brokerage highlighted the company's continued R&D investments to enhance scalability, automation, performance, and user experience, positioning Amagi as the “industry cloud” for media and entertainment.

 

However, Arihant Capital recommended 'Subscribe for Listing Gains,' noting the company’s cloud-native, AI-driven platform, strong customer retention, and global adoption. At the upper price band of ₹361, the IPO is valued at 6.4 times FY25 revenue.  ALSO READ | Shadowfax sets IPO price band at ₹118-124: Check dates, lot size, objective

Amagi Media Labs IPO details

Amagi Media Labs aims to raise ₹1,788.62 crore through a combination of fresh issue of 22.6 million shares and an offer for sale (OFS) of 26.9 million shares. The public offering is available at a price band of ₹343 to ₹361, with a lot size of 41 shares. A retail investor can bid for a minimum of one lot with an investment amount of ₹14,801 (at the upper end of the IPO price) and in multiples thereof.

 

As the subscription window concludes today, the basis of allotment for Amagi Media IPO shares is expected to be finalised on Monday, January 19, 2026. The successful allottees will receive the company's shares in their demat accounts by Tuesday, January 20, 2026.

 

Amagi Media Labs shares are scheduled to list on the NSE and BSE, tentatively on Wednesday, January 21, 2026.

 

MUFG Intime India is the registrar for the issue. Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital are the book-running lead managers. 

 

According to the red herring prospectus (RHP), the company plans to utilise ₹550 crore from the net fresh issue proceeds for expenses towards technology and cloud infrastructure. The remaining funds will be used for funding inorganic growth through unidentified acquisitions and general corporate purposes.   Disclaimer: View and outlook shared belong to the respective brokerages/analysts and are not endorsed by Business Standard. Readers discretion is advised.