Amagi Media Labs’ struggled to attract investor interest, with the issue subscribed just 13 per cent overall on the second day of bidding, reflecting a tepid response across investor categories.
According to data, qualified institutional buyers (QIBs) bid 0.03 times. The non-institutional investor (NII) portion was subscribed 0.08 times, while the retail individual investor segment saw relatively better participation at 0.49 times, though it remained well below full subscription.
The weak demand indicates caution among investors towards the ad-tech and media-technology space
The Bengaluru-based company’s IPO comprises a fresh issue of shares worth ₹816 crore and an OFS of 2.7 crore shares valued at ₹972.6 crore at the upper price band by existing shareholders. This takes the total issue size to ₹1,788.6 crore.
Ahead of the IPO, the company raised about ₹805 crore from anchor investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund.
The IPO will conclude on Jancuary 16, 2025. The price band for the issue has been fixed at ₹343 to Rs 361 per share, valuing the company at over ₹7,800 crore at the upper end of the band.
Proceeds from the fresh issue of ₹550 crore will be used to strengthen Amagi’s technology and cloud infrastructure, fund inorganic growth through acquisitions, and meet general corporate expenses.
These funds will be deployed in phases, with ₹82 crore earmarked for FY26, ₹359 crore for FY27, and ₹108 crore for FY28.