Amagi names Kotak, Citi, 2 others for ₹3,200 cr IPO

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.

- Sneha Shah & Ranjani Raghavan

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.

"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.