Amagi Media Labs IPO: Check IPO Date, Lot Size, Price & Details

Overview

Amagi Media Labs was founded in 2008 and operates as a software-as-a-service (SaaS) company serving the global video streaming ecosystem. The company provides a cloud-native technology platform that enables media companies to distribute, manage, and monetise video content over the internet. Its solutions support content delivery across smart televisions, smartphones, and digital applications, replacing traditional cable and set-top-box-based broadcasting models.

Amagi’s platform is designed to address the structural shift in the media industry toward internet-based video consumption, including over-the-top (OTT), free ad-supported streaming television (FAST), and on-demand video platforms. The company’s technology has supported the streaming and monetisation of large-scale, high-profile global events, including international sporting tournaments, global entertainment award shows, and major political broadcasts, highlighting its ability to operate at scale with high reliability.

The company offers an integrated, cloud-based platform that brings together the full video lifecycle into a single operating environment. This includes content ingestion, preparation, scheduling, distribution, and monetisation. By consolidating these workflows, Amagi helps customers reduce operational complexity, lower distribution costs, and improve speed-to-market across multiple platforms and geographies.

Amagi also supports global expansion for media companies by providing pre-configured distribution formats compatible with a large network of distributors. As of September 30, 2025, the platform supported content delivery to over 350 distributors across more than 40 countries. The platform enables localisation of content to meet regional cultural, compliance, and regulatory requirements, allowing customers to scale internationally without significant incremental infrastructure investment.

A key component of Amagi’s offering is its advertising technology stack, which enables targeted, contextual advertising on ad-supported streaming platforms. The company provides tools that allow advertisers and advertising platforms to deliver relevant ads to specific audience segments, measure campaign performance, and improve advertising yields.

Amagi serves three primary customer segments.

1. Content providers like TV networks, movie studios, and digital media creators use the platform to manage and monetise live and on-demand content through advertising.
2. Distributors, including OTT platforms and telecom operators, aggregate and deliver this content across devices and regions.
3. Additionally, advertising platforms and advertisers, such as demand-side platforms and ad agencies, utilise the tools to manage and optimise digital advertising campaigns.

The company’s business model benefits from network effects. As more content providers join the platform, the available content pool expands, attracting higher viewership on distributor platforms. During the six months ended September 30, 2025 and for Financial Year 2025, customers monetised 18.23 billion and 26.12 billion advertising impressions, respectively, reflecting the scale and growing adoption of the platform.

IPO Details

Use of Funds

1. Expenses towards technology and cloud infrastructure
2. Funding inorganic growth through unidentified acquisitions
3. General corporate purposes

Key Strength

• End-to-End Cloud Platform for Streaming Media
  Amagi Media Labs provides an end-to-end, “glass-to-glass” technology platform that supports the entire video lifecycle, from content creation to distribution and advertising monetisation. Its cloud-based solutions help media companies move away from complex, legacy systems to simpler and more scalable digital operations.

1. • Single platform to manage live, linear, and on-demand video content
   • Supports content production, broadcasting, global distribution, and ad monetisation
   • Cloud-native design enables easy scaling based on demand
   • Flexible integration with existing systems and multiple platforms
   • Modular solutions encourage long-term customer adoption and expansion

• Three-Sided Platform with Strong Network Effects
  Amagi Media Labs operates a three-sided marketplace connecting content providers, distributors, and advertisers through its integrated, cloud-based platform.

1. • For content providers, the platform enables cloud-based management of live, linear, and on-demand content, along with monetisation through ad-supported streaming.
   • For distributors, it offers access to a wide content library and tools for efficient distribution and audience engagement.
   • For advertisers, it provides access to targeted, context-aware connected TV (CTV) inventory with real-time performance analytics.

This interconnected model creates strong network effects. As more content providers join, distributor participation increases, leading to higher viewership and greater advertiser demand. Increased advertising revenues support further content investment, creating a self-reinforcing growth cycle across the ecosystem.

Key Risks

• History of Losses and Profitability Risks
  Amagi Media Labs has incurred losses and negative cash flows in several past periods, primarily due to its focus on business growth and expansion. The company reported losses in the H1FY25 and in FY23, 24, and 25, mainly driven by high employee benefit expenses and communication costs, including cloud and technology infrastructure spending. These costs reflect investments in skilled talent, platform development, and scalable infrastructure. While the company reported a profit in the H1FY26, profitability remains sensitive to its ability to improve operating leverage. Any increase in expenses, slower revenue growth, or inability to control costs could lead to a return to losses, adversely impacting financial performance, cash flows, and the market price of its equity shares.
• High Dependence on Overseas Markets
  Amagi Media Labs derives a significant portion of its revenue from international markets, particularly the American region and Europe (including the UK). These regions contributed over 70% and around 17% of total revenue, respectively, during the H1FY26 and FY25. This high geographic concentration exposes the company to risks arising from adverse economic conditions, regulatory changes, currency fluctuations, or demand slowdown in these markets.
  While Amagi has been expanding its presence in Asia-Pacific, the Middle East, and India, these regions currently contribute a relatively smaller share of revenues. Any prolonged weakness in key overseas markets could negatively impact revenue growth, profitability, cash flows, and overall financial performance.
• Pre-IPO Share Transfers at Lower Valuation
  Amagi Media Labs faces a potential perception risk as a member of its Promoter Group, Vinculum Advisors LLP (VAL), acquired equity shares from certain investors during the preceding year at a price of ₹25.00 per share, which may be lower than the IPO offer price.
  These secondary transactions involved transfers from existing financial investors and were executed through formal share purchase agreements with standard representations and indemnities. While there are no additional arrangements linked to these transfers, the lower acquisition price could create concerns among investors regarding valuation expectations. The transfer price should not be considered indicative of the IPO offer price or the post-listing market price of the company’s equity shares.
• Dependence on Third-Party Cloud Infrastructure
  Amagi Media Labs relies on third-party cloud service providers, including Amazon Web Services and another leading US-based cloud provider, to host and operate its platform. These providers support critical functions such as data storage, computing, video encoding, signal transport, and global content delivery. As Amagi does not control this infrastructure, any service disruption, outage, or performance failure could negatively impact platform reliability, customer operations, and financial performance.
  In addition, concentration within the global cloud services industry may lead to higher pricing, changes in commercial terms, or increased costs related to multi-region resilience and compliance. Any inability to renew cloud service agreements on acceptable terms or migrate smoothly to alternative providers could result in higher expenses, service interruptions, and potential liabilities.

Financial Snapshot

Conclusion

While Amagi Media Labs operates in a structurally attractive digital streaming and ad-supported video market, the company’s financial profile remains a key concern. Despite strong revenue growth and improving operating metrics, the business has a limited track record of sustained profitability and continues to face high operating costs. Significant dependence on overseas markets, reliance on third-party cloud infrastructure, and valuation concerns arising from pre-IPO share transfers further add to risk. Given these points, the recommendation is to avoid subscribing to the IPO.

IPO Allotment

Find out the allotment status for the Amagi Media Labs IPO by checking the its respective Registrar page.