India’s broadcast-tech unicorn Amagi Media Labs has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹1,020 crore through an initial public offering (IPO). The
India’s broadcast-tech unicorn Amagi Media Labs has officially filed its Draft Red Herring Prospectus (DRHP) with SEBI to raise ₹1,020 crore through an initial public offering (IPO). The Bengaluru-based company, which powers major streaming and broadcast players around the world, is now stepping into the spotlight as one of the most anticipated tech listings of the year.
But this IPO is about more than just numbers — it’s a statement from one of India’s fastest-growing B2B SaaS brands in the global media infrastructure space.
The proposed IPO includes:
Major investors looking to partially exit include private equity and venture capital funds that helped scale Amagi over the past decade.
The company has also left room for a pre-IPO placement of ₹204 crore, which, if executed, will reduce the size of the fresh issue.
Founded in 2008 by tech entrepreneurs Baskar Subramanian, Srividhya Srinivasan, and Arunachalam Srinivasan Karapattu, Amagi began as a disruptor in television advertising but has since evolved into a cloud-native media technology powerhouse.
Its core offering? Providing end-to-end cloud solutions that allow broadcasters, content creators, and OTT platforms to:
Amagi is a backbone provider for streaming platforms and linear TV channels alike — and with the world shifting rapidly toward cloud-first entertainment, its services are more relevant than ever.
Amagi’s global ambitions are already paying off. The United States remains its largest market, but the company is steadily expanding across Europe and the Asia-Pacific region.
The most eye-popping stat? Over 45% of the top 50 global media and entertainment firms use Amagi’s services — a testament to its deep industry penetration and enterprise-grade capabilities.
Its clientele includes big-name streaming platforms, global FAST channels, and cable networks transitioning into the digital-first future.
Amagi’s numbers show a clear pivot from growth-at-all-costs to sustainable expansion.
Revenue from operations rose to ₹1,162 crore in FY25, marking an impressive 30.7% CAGR from FY23. More significantly, the company turned profitable at the EBITDA level:
This signals a company transitioning from aggressive scaling mode to a more balanced, margin-focused growth strategy.
According to the DRHP, Amagi plans to channel IPO proceeds as follows:
This investment in platform modernization and AI-driven infrastructure is critical as the company looks to maintain its edge in an increasingly crowded cloud-tech space.
Amagi’s IPO comes at a time when India’s SaaS sector is maturing rapidly, and global investors are hungry for high-quality enterprise tech plays. It joins a promising pipeline of enterprise-focused Indian companies looking to tap public markets in 2025.
With its profitable unit economics, sticky enterprise clients, and a front-row seat in the $100+ billion global streaming industry, Amagi is poised to become India’s first true B2B cloud media unicorn on the stock market.
Now that the DRHP is filed, the next steps include:
If market conditions remain favorable, Amagi could go public in the final quarter of 2025.
Amagi’s IPO could be the most exciting Indian tech listing of the year — and a clear indicator that enterprise tech from India is ready for a global audience. Investors will be watching closely as this cloud-native pioneer steps onto the public stage.
