Indian software-as-a-service (SaaS) company Amagi has signalled its intention to launch an IPO by filing a draft red herring prospectus with the Bombay Stock Exchange and National Stock Exchange of India.
The proposed IPO comprises a fresh issue of shares worth 10,200.00 million Indian Rupees and an offer for sale by some of the company’s current shareholders.
According to reports, money raised from the IPO is expected to go towards strengthening the company’s cloud and technology infrastructure, as well as possible acquisitions.
Amagi is currently valued at around $1.4 billion, following a $100 million investment round led by General Atlantic in November 2022.
The company’s website states its technology “powers over 7,000 channel deliveries across 300+ content distributors, processing 500K+ hours of content and generating 26 billion+ monetised ad impressions.”
Cients include the UK’s Channel 4, Virgin Media, Warner Bros Discovery and Banijay.
In 2023, Amagi acquired Tellyo’s business in order to boost its video toolset for live sports and news broadcasts, and improve live video streaming and editing experience for customers worldwide.
