12 Dec, 2026
4 mins read
India-based Amagi Media Labs is launching its much-anticipated IPO, opening for subscription from 13th to 16th January 2026. Known for its cloud-native SaaS solutions in the broadcast and streaming industry, Amagi has made a remarkable journey from losses to profits; now it's offering investors a slice of its evolving story.
Let’s break down what the company does, its financial turnaround, the risks and opportunities, and the key details of the IPO.
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Amagi is not your typical tech firm - it’s redefining television and streaming. The company helps media players ditch satellite hardware and shift their infrastructure to the cloud.
The business is divided into three core segments:
Cloud Modernisation: Assists traditional TV networks in moving their infrastructure to the cloud.
Streaming Unification: Helps manage content delivery across platforms like smart TVs and streaming apps.
Monetisation: Inserts ads into free streaming channels using AI and shares ad revenue.
In simple terms, Amagi is the tech engine powering modern television experiences globally.
Amagi’s financial journey is one of strong growth and a recent turnaround:
|
Financial Year |
Revenue from Operations (₹ Cr) |
Net Profit / Loss |
Adjusted EBITDA |
|---|---|---|---|
|
FY23 |
₹680.6 Cr |
-₹321.3 Cr |
-₹140.3 Cr |
|
FY24 |
₹879.2 Cr |
-₹245 Cr |
-₹155.5 Cr |
|
FY25 |
₹1,162.6 Cr |
-₹68.7 Cr |
₹23.5 Cr |
|
H1 FY26 |
₹704.8 Cr |
₹6.47 Cr |
₹58.2 Cr |
Revenue grew at a 30% CAGR over three years.
The company turned EBITDA positive in FY25 (on an adjusted basis).
It posted a net profit of ₹6.47 crore in the first half of FY26.
This turnaround is one of the key talking points for investors.
At the upper end of the price band, the company is valued at ₹7,810 crore. While this may seem premium, Amagi’s Net Revenue Retention (NRR) stands at an impressive 127%. This means existing customers are spending more with Amagi every year—a healthy sign for a SaaS company.
Every IPO brings its own set of strengths and vulnerabilities. Understanding both the opportunities and risks is essential before making an investment decision. In Amagi's case, the global reach, technological innovation, and positive financial trends present compelling growth potential.
Global Leadership: Amagi is currently the largest cloud-native playout provider globally.
US Market Advantage: As cable TV declines in the US (cord-cutting), Amagi’s services are becoming more relevant.
US Dependency: Over 70% of its revenue comes from the US. Any disruption in India-US trade ties or a US economic slowdown could impact the business.
However, since it’s a services business, it is not affected by tariffs as of now.
Ad-Dependent Revenue: A global recession could lead to reduced ad spends, directly impacting Amagi’s monetisation stream.
|
IPO Element |
Details |
|---|---|
|
Open Date |
13th January 2026 |
|
Close Date |
16th January 2026 |
|
Expected Listing Date |
21st January 2026 |
|
Price Band |
₹343 – ₹361 per share |
|
Lot Size |
41 shares |
|
Issue Size |
₹1,789 crore |
|
Fresh Issue |
₹816 crore |
|
Offer for Sale |
₹973 crore |
From the fresh issue, ₹550 crore will be used for upgrading cloud infrastructure and tech investments. These include ongoing server costs and cloud agreements, not physical assets, which may impact profitability in the short term.
Amagi Media Labs has established itself as a global tech leader in media SaaS, operating from India. Its transition from losses to profits, growing revenue, and high NRR are certainly attractive.
However, investors should consider the premium valuation and geographic revenue concentration before investing. Eligible investors can apply for the IPO through ASBA-enabled brokers, including via the FYERS platform.
Amagi offers cloud-based broadcasting solutions, helping TV and streaming networks move their operations to the cloud. It also provides content distribution and AI-powered ad monetisation services.
The IPO opens on 13th January 2026 and closes on 16th January 2026. It is expected to list on 21st January 2026.
The price band is ₹343 to ₹361, and the lot size is 41 shares.
Out of the ₹1,789 crore total issue size:
₹550 crore from the IPO proceeds will be used to upgrade cloud infrastructure and fund acquisitions. These are mostly operational expenses, not capital assets.
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