Amagi Media Labs IPO Day 2 LIVE: The first day of bidding for the initial public offering of Amagi Media Labs Ltd, a SaaS company that provides cloud-based solutions for media companies to stream and monetize digital video content, saw a subscription rate of 6%. Amagi Media Labs IPO GMP today is ₹20.
Amagi Media Labs IPO opened for subscription on Tuesday, January 13, and will close on Friday, January 16. Amagi Media Labs IPO price band has been set in the range of ₹343-361 per share.
The IPO of the Bengaluru-based company consists of a fresh issue of shares valued at ₹816 crore, in addition to an offer-for-sale (OFS) involving 2.7 crore shares priced at ₹972.6 crore at the upper limit by current stakeholders. Thus, the total size of the issue amounts to ₹1,788.6 crore.
Established in 2008, Amagi has the support of prominent investors such as Accel, Avataar Ventures, Norwest Venture Partners, and Premji Invest.
The book-running lead managers for this issue are Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital.
(Stay tuned for more updates)
