The initial public offering of Amagi Media Labs Ltd entered its second day on Wednesday, 14 January 2026. This cloud-based television technology company launched its mainboard IPO on Indian exchanges yesterday.
IPO Price Band and Fundraising Details
Amagi Media Labs has set its price band between ₹343 and ₹361 per share. The company aims to raise a total of ₹1,789 crore through this public offering.
Out of this amount, ₹816 crore will come from a fresh issue of shares. The remaining ₹973 crore will be raised through the Offer for Sale route where existing shareholders sell their stakes.
The IPO is scheduled for listing on both the Bombay Stock Exchange and the National Stock Exchange.
Grey Market Premium Remains Steady
Market observers report that Amagi Media Labs shares are commanding a premium of ₹16 per share in the grey market today. This Grey Market Premium of ₹16 shows no change from yesterday's level.
Analysts view this steady GMP as a positive signal, especially considering the current pressure in secondary markets. The unchanged premium suggests consistent investor interest despite broader market conditions.
Subscription Status After Day One
After the first day of bidding, the overall public issue was subscribed 0.06 times. Breaking this down further, the retail portion saw stronger demand with 0.28 times subscription.
The Non-Institutional Investor segment recorded 0.04 times subscription by the end of Tuesday's trading session.
Analyst Recommendations and Reviews
Lakshmishree Research View
Anshul Jain, Head of Research at Lakshmishree, has assigned a 'subscribe' rating to the IPO. He highlights the company's comprehensive cloud-native platform that covers the entire media value chain.
"Amagi operates a three-sided marketplace connecting content providers, distributors, and advertisers," Jain notes. "This creates strong network effects that enhance platform scalability."
The company's technology incorporates predictive and generative artificial intelligence for content scheduling and monetization. Continuous R&D investments have resulted in multiple intellectual property assets including granted patents.
Jain emphasizes Amagi's long-term relationships with leading global media companies, with top customers maintaining multi-year engagements and no churn among the top ten clients in recent years.
Anand Rathi Assessment
Anand Rathi also recommends subscribing to the IPO, particularly for long-term investors. At the upper price band, the company is valued at 6.7 times FY25 price-to-sales ratio.
This translates to a post-issue market capitalization of ₹78,098 million. The firm turned profitable in the first half of FY26 and is positioned to deliver full-year profitability in FY26.
"Supported by strong operating leverage and continued R&D investments, Amagi reinforces its position as the industry cloud for video in media and entertainment," the Anand Rathi report states.
Other Brokerage Views
Several other brokerage firms have assigned positive ratings to the Amagi Media Labs IPO:
- Arihant Capital Markets recommends 'buy'
- BP Equities suggests 'buy'
- DR Choksey gives a 'buy' rating
- Nirmal Bang recommends 'buy'
- SMIFS assigns 'buy'
- Sushil Finance suggests 'buy'
IPO Timeline and Key Dates
The most likely allotment date for Amagi Media Labs shares is 17 January 2026. However, if there are delays due to Saturday falling on that date, the allotment may shift to 19 January 2026.
The expected listing date on stock exchanges is 21 January 2026.
Company Financial Performance
Amagi Media Labs has reported increasing total income over the last two financial years. For the September 2025 quarter, total revenue reached approximately ₹734 crore.
This represents about 60% of the company's total income for FY25. While the company reported negative Profit After Tax in FY23, FY24, and FY25, it has shown year-on-year improvement.
By the end of the September 2025 quarter, PAT turned positive at ₹6.47 crore. This improvement contributed to a significant rise in net worth, which stood at around ₹860 crore at the end of September 2025.
This marks substantial growth from the FY25 net worth of approximately ₹510 crore.
IPO Management Team
MUFG Intime India Private Limited serves as the official registrar for this book build issue. The lead managers appointed for the public offering include:
- Kotak Mahindra Capital
- Citigroup Global Markets
- Goldman Sachs (India)
- IIFL Capital Services
- Avendus Capital
Disclaimer: This information is for educational purposes only. The views and recommendations expressed belong to individual analysts or brokerage firms. Investors should consult certified experts before making any investment decisions.
