Amagi Media Labs IPO Day 2: Subscription Rate Stands at 6%
Investors showed cautious interest in the Amagi Media Labs initial public offering on its first day. The subscription rate reached 6% as bidding opened. The grey market premium today holds steady at ₹20.
IPO Details and Timeline
The Amagi Media Labs IPO opened for subscription on Tuesday, January 13. It will close on Friday, January 16. The company set a price band of ₹343 to ₹361 per share.
This Bengaluru-based SaaS firm provides cloud-based solutions for media companies. Its technology helps clients stream and monetize digital video content effectively.
Issue Size and Structure
The total issue size amounts to ₹1,788.6 crore. It consists of two main components.
- A fresh issue of shares valued at ₹816 crore.
- An offer-for-sale involving 2.7 crore shares priced at ₹972.6 crore at the upper limit.
Current stakeholders are participating in the offer-for-sale portion.
Company Background and Investors
Amagi Media Labs started operations in 2008. The company has attracted support from several prominent investors over the years.
Key backers include Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest. These investors have shown confidence in the company's growth potential.
Book-Running Lead Managers
Five financial institutions are managing this public offering. They serve as book-running lead managers for the issue.
- Kotak Mahindra Capital
- Citigroup Global Markets India
- Goldman Sachs (India) Securities
- IIFL Capital Services
- Avendus Capital
These managers are handling the subscription process and investor relations.
Market watchers will continue monitoring the subscription levels as the IPO progresses. The coming days will reveal investor appetite for this media technology offering.
