Amagi Media Labs Ltd IPOAMAGI

The IPO opens on 13 Jan 2026 & closes on 16 Jan 2026.

Amagi Media Labs Limited was originally incorporated as 'Amagi Technologies Private Limited' at Bengaluru, Karnataka as a private limited company under the Companies Act, 1956, pursuant to the certificate of incorporation dated February 1, 2008, issued by the Registrar of Companies, Karnataka at Bengaluru. Subsequently, the name of the Company was changed to 'Amagi Media Labs Private Limited' pursuant to a fresh certificate of incorporation dated March 11, 2010, issued by the RoC. Thereafter, it converted from a private limited to a public limited dated May 23, 2025. A fresh certificate of incorporation dated June 2, 2025 was issued by the RoC changing the name of the Company to 'Amagi Media Labs Limited'. Amagi Media Labs was co-founded in 2008 by Baskar Subramanian, who has played a key role in architecting several of the core technologies, including innovations in cloud-based broadcasting and ad targeting. Amagi Media is a software-as-a-service company that connects media companies to their audiences through cloud-native technology. The business platform helps content providers and distributors upload and deliver video over the internet through smart televisions, smartphones and applications, instead of traditional cable or set-top box services. The business also help monetize such content through targeted advertising services for advertisers. This platform integrates production, preparation, distribution and monetization workflows into a single combination, allowing customers to reduce complexity, improve operating efficiencies and increase their content revenue. In 2015, Company expanded operations to the US by acquiring the subsidiary, Amagi Corporation, USA; it expanded business activities to Singapore by incorporating Amagi Media Labs Pte. Limited in 2018. The Company signed an agreement with AETN UK, to move the broadcast operations of AETN UK to cloud software for the first time in 2020. Amagi Corporation, USA entered into service agreements with SADA Systems LLC to accelerate cloud adoption through public cloud infrastructure platform. In 2022, Company launched Amagi LIVE, enabling content brands to broadcast live from any location worldwide; further launched Amagi NOW, accelerating time to market and revenue realization for content owners and platforms. The Company started business with MEASAT Broadcast Network Systems Sdn. Bhd. to launch a Free Ad-Supported Streaming TV (FAST) service on Sooka in FY23. The Company acquired Tellyo OY by Amagi Media UK Private Limited, United Kingdom, which was followed by opening of a new branch office in Poland in 2024. 'ZeroSlate' a new streaming technology launched in FY 2025. 'AI techstack' owned by Argoid Analytics, Inc., USA was transferred to Company to offer AI-driven innovation in the media and entertainment industry in FY 2025. Company raised money through initial public offering aggregating to Rs 1020 Crore equity shares through fresh issue and by issuing 34,188,542 equity shares having the face value of Rs 5 each through offer for sale.

Amagi Media Labs Ltd IPO will close on 16 Jan 2026.

<ul><li>One-stop glass-to-glass solutions provider.</li><li>Positioned within a three-sided marketplace to leverage strong network effects.</li><li>Proprietary, award-winning technology platform with artificial intelligence capabilities.</li><li>Trusted by global customers with long-term relationships.</li><li>Visionary founders with strong leadership and a culture of innovation.</li></ul>

<table class="table"> <thead> <tr> <th>S.No</th> <th>Promoters Name</th> <th>Pre Issue Shares</th> <th>Pre Issue Percentage</th> <th>Post Issue Shares</th> <th>Post Issue Percentage</th> </tr> </thead> <tbody> <tr> <td>1</td> <td>Baskar Subramanian</td> <td>9565092</td> <td>4.65</td> <td>9565092</td> <td>3.93</td> </tr> <tr> <td>2</td> <td>Srividhya Srinivasan</td> <td>9565128</td> <td>4.65</td> <td>9565128</td> <td>3.93</td> </tr> <tr> <td>3</td> <td>Arunachalam Srinivasan Karapat</td> <td>9645048</td> <td>4.69</td> <td>9645048</td> <td>3.96</td> </tr> <tr> <td>4</td> <td>Vinculum Advisors LLP</td> <td>3508930</td> <td>1.71</td> <td>3508930</td> <td>1.44</td> </tr> </tbody> </table>

<ul><li>The company has experienced losses and negative cash flows in the past and any increases in expenses, decline in revenues or negative cash flows in future periods could adversely affect its business, results of operations, financial condition and the trading price of the company's Equity Shares.</li><li> The company's revenue from operations from the America Region and Europe (including UK) was Rs.5,161.06 million, or 73.23%, and Rs.1,217.20 million, or 17.27%, respectively, of its revenue from operations during the six months ended September 30, 2025, and Rs.8,470.70 million, or 72.86%, and Rs.2,016.58 million, or 17.34%, respectively, of the company's revenue from operations during the Financial Year 2025, each based on Ind AS 108 (Operating Segments). Any adverse changes in the economic conditions that affect the economies of the geographies and markets in which we have a presence could adversely affect its business, results of operations, financial condition and cash flows.</li><li>Vinculum Advisors LLP, a member of the company's Promoter Group, has acquired Equity Shares from certain Shareholders during the preceding year at a price that may be lower than the Offer Price.</li><li>The company depends on cloud infrastructure operated by third parties for its platform and solutions, and any disruption in the operation of such infrastructure could adversely affect the company's business, results of operations, financial condition and cash flows, and subject the company to liability.</li><li>Technology failures or interruptions in the availability of its cloud-based solutions could have an adverse effect on the company's business, results of operations, financial condition and cash flows.</li><li>An inability to dedicate sufficient resources to its research and development operations could erode the company's competitive advantage and accordingly, adversely affect its business, results of operations, financial condition and cash flows.</li><li> The company's business and revenue from operations are highly concentrated in the United States, and any adverse changes in the geopolitical, economic or regulatory environment of the United States could adversely affect its business, results of operations, financial condition and cash flows.</li><li>The determination of the Price Band is based on a variety of factors and assumptions and the Offer Price of the Equity Shares, market capitalization and price to earnings ratio based on the Offer Price of the Equity Shares, may not be indicative of the market price of its Equity Shares upon listing or thereafter.</li><li> The company's utilization of the Net Proceeds for expenses towards technology and cloud infrastructure will not result in the creation of any tangible or intangible assets and will be recorded as expenses in the company's statement of profit and loss.</li><li>The markets for its solutions are new, unproven and evolving, and the company's future success depends on the growth and expansion of these markets and its ability to adapt and respond effectively to evolving markets.</li><li>The company depends on certain key customers for a significant portion of its revenue from operations, with the company's largest, five largest and ten largest customers contributing to 14.06%, 30.94% and 40.19%, respectively, of its revenue from operations for the six months ended September 30, 2025 and 11.41%, 23.65% and 33.74%, respectively, of the company's revenue from operations for the Financial Year 2025. The loss of one or more of its key customers or an inability to replace such customers could adversely affect the company's business, results of operations, financial condition and cash flows.</li><li>An inability to respond to rapid technological changes or develop new solutions and features that are attractive to its current and prospective customers could have an adverse effect on the company's business, results of operations, financial condition and cash flows.</li><li>The company intend to utilize a portion of the Net Proceeds towards inorganic growth through unidentified acquisitions and general corporate purposes, and an inability to identify suitable targets for the deployment of such proceeds, in a timely manner, or at all, could adversely affect its business, results of operations, financial condition and cash flows.</li><li>There has been a delay in the appointment of the Company Secretary in the past, constituting non-compliance with Section 203 of the Companies Act, 2013, which may subject the company to regulatory proceedings, actions or penalties.</li><li>There have been instances of delays in filing form ESOP with the Reserve Bank of India within the prescribed timelines under applicable law, and the company has compounded such delays under the FEMA.</li><li>52.86% and 57.14% of the company's revenue from operations for the six months ended September 30, 2025 and the Financial Year 2025, respectively, was attributable to its streaming unification solutions and any factors that adversely affect this business division could adversely affect the company's business, results of operations, financial condition and cash flows.</li><li> The company's business is focused on the video and media industry and any factors that adversely affect this industry could in turn have an adverse effect on its business, results of operations, financial condition and cash flows.</li><li> The company's employee benefits expense was Rs.3,856.88 million, or 53.40% of its total expenses and 54.72% of the company's revenue from operations for the six months ended September 30, 2025, and was Rs.6,948.10 million, or 54.50% of our total expenses and 59.76% of its revenue from operations for the Financial Year 2025. Increases in employee costs, including on account of increased competition or other factors, could adversely affect the company's business, results of operations, financial condition and cash flows.</li><li>A significant portion of its revenue from operations is from jurisdictions outside India and the company does not actively hedge its exposure to foreign currency, which exposes the company to foreign currency risk, which may adversely affect its business, financial condition, results of operations and cash flows.</li><li>Certain of its Directors does not have experience in serving on the board of directors of a listed company in India, which could adversely affect the company's business.</li><li> The company's historical performance is not indicative of its future growth or financial results and if the company fails to manage its growth or implement the company's growth strategies effectively, the company's business, results of operations, financial condition and cash flows may be adversely affected.</li><li>If the company's data protection measures are insufficient or if the company experience or are perceived to have experienced any cybersecurity, data or privacy breaches, or if unauthorized access to customer data is otherwise obtained, the company's solutions may be perceived as not being secure, customers may reduce the use of or stop using its solutions and the company may incur liabilities.</li><li>The company has pursued and will likely continue to pursue strategic acquisitions for inorganic growth. The company may not derive the anticipated benefits from its strategic investments and acquisitions and the company may not be successful in pursuing future investments and acquisitions, which could adversely affect its business, results of operations, financial condition and cash flows.</li><li>Issues related to the use of artificial intelligence could lead to changes in the company's customers' operations, give rise to security, privacy and regulatory concerns, damage the company reputation or otherwise harm its business. The integration of artificial intelligence in the company's tools and solutions also exposes the company to additional data security and privacy risks.</li><li>If the company's pricing structures does not accurately anticipate the cost, complexity and duration of its work, then the company's contracts could result in cost and time overruns, which could make its contracts unprofitable.</li><li> The company's business depends on its ability to attract and retain highly skilled professionals. If the company fails to attract, retain, train and optimally utilize the company's professionals, the company's business may be unable to grow and its results of operations, financial condition and profitability could be adversely affected.</li><li> The company's monetization and marketplace business division depends on demand for CTV advertising, and any reduction in fill rates or CPMs could adversely affect its business, results of operations, financial condition and cash flows.</li><li> The company's monetization products are exposed to invalid traffic, SSAI-spoofing and measurement risks, which could reduce monetizable impressions and adversely affect its business, results of operations, financial condition and cash flows.</li><li> The company's ability to increase its customer base and achieve broader market acceptance of the company's solutions will depend on its ability to develop and expand the company's sales and marketing capabilities and an inability to do so could adversely affect its business, results of operations, financial condition and cash flows.</li><li>The company incorporate third-party open source software in connection with its cloud solutions and the company's failures to comply with the terms of the underlying open source software licenses could adversely affect its ability to offer the company's solutions, affect its customers and create potential liability on the company.</li><li>The company operates in a highly competitive industry and an inability to compete could adversely affect its business, results of operations, financial condition and cash flows.</li><li>The company provides service level commitments under its customer contracts and the company's terms of service. If the company fails to meet these contractual commitments, the company could be obligated to provide credits for future service or allow customers to terminate their subscriptions and its business, results of operations, financial condition and cash flows could be adversely affected.</li><li> The company's Statutory Auditors have included certain modifications in their audit report on its financial statements as of and for the Financial Years 2025, 2024 and 2023, which if unaddressed, could adversely affect the company's business, reputation and the trading price of its Equity Shares.</li><li>The company is exposed to counterparty credit risk and delays in receiving payments or non-receipt of payments may adversely affect its business, financial condition, cash flows and results of operations.</li><li>The company primarily relies on revenue from three-year contracts, and because we recognize revenue from these contracts over the term of the relevant contract period, downturns or upturns in sales are not immediately reflected in full in the company's results of operations. Accordingly, the company's quarterly results published upon listing may not be indicative of its annual financial performance, results of operations and cash flows.</li><li>The company may be unable to protect its intellectual property rights and may be exposed to misappropriation and infringement claims by third parties, which could have an adverse effect on the company's business and reputation.</li><li>The company is dependents on its Promoters, Key Managerial Personnel and Senior Management Personnel for the company's business and growth, and the loss of, or an inability to attract or retain such personnel could adversely affect its business, results of operations, financial condition and cash flows.</li><li>Certain of its Subsidiaries have incurred losses in the past. If the company's Subsidiaries continue to incur losses, the company may be required to continue providing financial support to them and the company's consolidated results of operations, financial condition and cash flows could be adversely affected.</li><li>The company does not own its Registered and Corporate Office or any of the company's other offices, and are accordingly exposed to risks associated with leasing real estate. Any adverse developments in relation to such leased offices could adversely affect its business, results of operations, financial condition and cash flows.</li><li>There are outstanding legal proceedings involving the Company, our Directors, the company's Key Managerial Personnel and Senior Management Personnel, the company Promoters and its Subsidiaries. Failures to defend these proceedings successfully may have an adverse effect on its business, results of operations, financial condition and cash flows.</li><li>If the company is unable to establish and maintain effective internal financial and operational controls, the company's business and reputation could be adversely affected.</li><li>The company has contingent liabilities, and its results of operations, financial condition and cash flows could be adversely affected if any of these contingent liabilities materialize.</li><li>The company has in the past entered into related party transactions and may continue to do so in the future. The company cannot assure you that the company could not have achieved more favorable terms had such transactions not been entered into with related parties.</li><li>The company is subject to anti-bribery, anti-corruption and sanctions laws and regulations and a failures to comply with such laws and regulations could have an adverse effect on its business, reputation, financial condition, results of operations, investor confidence and the trading price of the company's Equity Shares.</li><li>The company requires certain statutory and regulatory licenses and approvals to conduct the company's business and an inability to obtain, retain or renew such licenses and approvals could have an adverse effect on its business, results of operations, financial condition and cash flows.</li><li>This Red Herring Prospectus contains information from third parties including an industry report prepared by an independent third-party research agency, Lattice Technologies Private Limited, which we have commissioned and paid for to confirm our understanding of our industry exclusively in connection with the Offer and reliance on such information for making an investment decision in the Offer is subject to inherent risks.</li><li>The company track certain operating metrics through its internal systems and tools, which may result in inaccurate data or may impair its understanding and evaluation of certain aspects of the company business in the future.</li><li>Certain non-generally accepted accounting principle financial measures and other statistical information relating to our operations and financial performance have been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable with those presented by other companies.</li><li>Any peers that the company may identify in the future may outperform the company in certain financial and operational metrics and ratios, which could adversely affect the trading price of its Equity Shares and the company's reputation, market share and business.</li><li>Certain of its Promoters, Directors, Key Managerial Personnel and Senior Management Personnel may be interested in the Company and its Subsidiaries other than in terms of remuneration, perquisites or benefits and reimbursement of expenses.</li><li>Grants of stock options under the company's employee stock option plans may result in a charge to its statement of profit and loss and will, to that extent, reduce the company's profits.</li><li> The company's ability to pay dividends in the future will depends on its earnings, financial condition, cash flows, working capital requirements, capital expenditures and restrictive covenants of the company's financing arrangements.</li><li>There have been certain instances of delays in payment of statutory dues by the Company in the past and any such delays in the future may result in the imposition of penalties.</li></ul>

The Issue type of Amagi Media Labs Ltd is Book Building.

The minimum application for shares of Amagi Media Labs Ltd is 41.

The total shares issue of Amagi Media Labs Ltd is 49546221.

Initial public offer of up to 4,95,46,221 equity shares of face value of Rs.5/- each ("Equity Shares") of Amagi Media Labs Limited ("Company" or "Issuer") for cash at a price of Rs. 361 per equity share (including a Share Premium of Rs. 356 per Equity Share) ("Offer Price") aggregating up to Rs. 1788.62 crores comprising a fresh issue of up to 22603878 equity shares of face value of Rs.5/- aggregating up to Rs. 816.00 crores by the company ("Fresh Issue") and an offer for sale of up to 26,942,343 equity shares of face value of Rs.5/- aggregating up to Rs. 972.62 crores ("Offered Shares") by the selling shareholders, and such equity shares offered by the selling shareholders ("Offer for Sale"), comprising an offer for sale of up to 9,889,646 equity shares of face value of Rs.5/- each aggregating up to Rs. 357.02 crores by pi opportunities fund-i, 7,904,888 equity shares of face value of Rs.5/- each aggregating up to Rs. 285.37 crores by Norwest Venture Partners X - Mauritius, 4,857,984 equity shares of face value of Rs.5/- each aggregating up to Rs. 175.37 crores by PI Opportunities Fund-II, 4,300,466 equity shares of face value of Rs.5/- each aggregating up to Rs. 155.25 crores by Accel India VI (Mauritius) Ltd., 3,025,844 equity shares of face value of Rs.5/- each aggregating up to Rs. 109.23 crores by Trudy Holdings, 1,864,948 equity shares of face value of Rs.5/- each aggregating up to Rs. 67.32 crores by AVP I Fund and 1,763,442 equity shares of face value of Rs.5/- each aggregating up to Rs. 63.66 crores by Accel Growth VI Holdings (Mauritius) Ltd. (The "Investor Selling Shareholders"), and up to 196,711 equity shares of face value of Rs.5/- each aggregating up to Rs. 7.10 crores by Prem Gupta, 179,248 equity shares of face value of Rs.5/- each aggregating up to Rs. 6.47 crores by Rahul Garg, 141,420 equity shares of face value of Rs.5/- each aggregating up to Rs. 5.11 crores by Rajesh Ramaiah, 45,450 equity shares of face value of Rs.5/- each aggregating up to Rs.1.64 crores by Rajat Garg and 18,495 equity shares of face value of Rs.5/- each aggregating up to Rs. 0.67 crores by Kollengode Ramanathan Lakshminarayana (the "Individual Selling Shareholders"). The company, in consultation with the brlms, may consider a pre-ipo placement aggregating up to Rs.204.00 crores, as may be permitted under applicable law, at its discretion, prior to filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company, in consultation with the brlms. if the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the fresh issue, subject to compliance with rule 19(2)(b) of the scrr. The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the fresh issue. Prior to the completion of the offer, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the offer or the offer may be successful and will result into listing of the equity shares on the stock exchanges. Further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if Undertaken) shall be appropriately made in the relevant sections of the red herring prospectus and the prospectus. The offer includes a reservation of up to [*] equity shares of face value of Rs.5/- each, aggregating up to Rs.[*] crores (constituting up to [*]% of the post-offer paid-up equity share capital of the company), for subscription by eligible employees ("employee reservation portion"). The offer less the employee reservation portion is hereinafter referred to as the "Net Offer". the offer and the net offer shall constitute [*] % and [*] % respectively, of the post-offer paid-up equity share capital of the company. Price Band: Rs. 361 per equity share of face value Rs. 5/- each. The floor price is 72.2 times of the face value of the equity shares. Bids can be made for a minimum of 41 equity shares and in multiples of 41 equity shares thereafter.