Amagi Media Labs may become a rare SaaS listing

The IPO wave on Dalal Street is picking up pace, and Amagi Media Labs is the latest name to join the queue.

The SaaS company has filed its Red Herring Prospectus (RHP) for an IPO worth ₹1,789 crore, targeting a valuation of over ₹7,800 crore.

Worth noting: Amagi is among the first companies in its niche to tap public markets, and is being positioned as the first Media and Entertainment SaaS unicorn, or cloud-native video platform, to list.

The scoop: Amagi powers the backend of modern video streaming. It helps broadcasters, OTT platforms, and content owners create, manage, distribute, and monetise video channels, largely using cloud infrastructure powered by Amazon Web Services India (AWS).

The company plans to raise ₹816 crore through fresh shares, while existing shareholders will sell up to 2.69 crore shares, worth around ₹972.6 crore at the upper end of the price band.

The company plans to use ₹667 crore from the fresh issue to strengthen its technology stack and cloud infrastructure. It will also set aside funds for future growth, including potential acquisitions.