Amagi Media Labs’ IPO sees muted response, 10% subscribed on day 2 so far

Amagi Media Labs’ initial public offering (IPO) has struggled to attract investor interest, with the issue receiving a total of just 0.10 subscriptions as of 2:54 p.m. on the second day of offering, reflecting a lukewarm response across all investor categories.

According to exchange data, qualified institutional buyers (QIBs) had not submitted any bids, resulting in NIL entries in that segment.

The non-institutional investor segment (NII) was subscribed 0.07 times, while the private retail investor segment saw relatively better participation at 0.45 times, although it remained well below full subscription.

The weak demand signals investor caution towards the ad-tech and media technology sector

The Bengaluru-based company’s IPO includes a fresh issue of shares worth ₹816 crore and an OFS of 2.7 crore shares valued at ₹972.6 crore at the top price band by existing shareholders. This brings the total size of the problem to ₹1,788.6 crore.

Prior to the IPO, the company raised around ₹805 crore from key investors including SBI Mutual Fund, ICICI Prudential Mutual Fund and HDFC Mutual Fund.

The IPO will be completed on January 16, 2025. The price band for the issue has been set at ₹343 to Rs 361 per share, valuing the company at over ₹7,800 crore at the higher end of the range.

Proceeds from the ₹550 crore fresh issue will be used to strengthen Amagi’s technology and cloud infrastructure, fund inorganic growth through acquisitions and meet general operating expenses.

These funds will be deployed in phases, with ₹82 crore earmarked for FY26, ₹359 crore for FY27 and ₹108 crore for FY28.

Published on January 14, 2026