Amagi hires Kotak, Citi, IIFL, Goldman to raise up to ₹3,200 cr in IPO
Subscribe to enjoy similar stories. Media technology unicorn Amagi Media Labs has hired Kotak Mahindra Capital, Citigroup, IIFL Capital and Goldman Sachs as investment banks to raise up to ₹3,200 crore in an initial public offering (IPO), two people aware of the matter said. The company, which counts NBC Universal, CBS, USA Today and Japan’s Rakuten Group among its clients, is likely to file draft IPO papers after April, the people said on the condition of anonymity.
Amagi is backed by marquee investors including General Atlantic and Accel. “It will be a mix of offer for sale (OFS) and primary raise. The primary capital will help the company expand its operations and pursue inorganic activities," one of the two people said, adding the company may raise ₹3,000- ₹3,200 crore from the issue.
Also read | More tier-II companies are likely to drive India’s IPO boom in 2025 “Amagi is targeting an IPO in the next fiscal. It is likely to realign the cap table with some early investors exiting ahead of the IPO. The details are yet to be finalized," the second person said, adding the IPO may value the company at $1.8-2 billion.
Over the last couple of years, the company has discussed IPO plans, and continues to evaluate the prospect from time to time, an Amagi spokesperson said in response to a query. "So, there is nothing new to comment on bankers, IPO size, valuation or timing of the IPO." Spokespersons for Citigroup, Goldman Sachs, IIFL and Kotak did not respond to queries. International Financing Review (IFR) was the first to report on Amagi's IPO plans on 15 January.
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