Amagi Media Labs IPO: GMP, Review & Outlook

Amagi Media Labs Limited is set to make its much-anticipated debut in the Indian primary market with a book-building IPO worth ₹1,788.62 crores. The IPO has attracted strong attention from retail and institutional investors, driven by Amagi’s position in the fast-growing adtech and connected TV (CTV) advertising space, along with a healthy Grey Market Premium (GMP).

As of 15th January 2026, the Amagi Media Labs IPO GMP stands at ₹31 per share, suggesting positive listing expectations. The issue is scheduled to be listed on both BSE and NSE on 21st January 2026.

This article provides a detailed and updated analysis of the Amagi Media Labs IPO, including GMP trends, subscription status, IPO structure, business overview, financial performance, valuation metrics, risks, and overall investment outlook.

Amagi Media Labs IPO: Key Details at a Glance

Here are the important details of the Amagi Media Labs IPO:

• IPO Open Date: 13th January 2026

• IPO Close Date: 16th January 2026

• IPO Allotment Date: 19th January 2026

• Refund Initiation: 20th January 2026

• Listing Date: 21st January 2026

• Issue Type: Book Building IPO

• Total Issue Size: 4,95,46,221 shares (₹1,789 Cr approx.)

• Fresh Issue: 2,26,03,878 shares (₹816 Cr approx.)

• Offer for Sale (OFS): 2,69,42,343 shares (₹973 Cr approx.)

• Face Value: ₹10 per share

• Price Band: ₹343 to ₹361 per share

• Lot Size: 41 shares (Retail minimum)

• Minimum Retail Investment: ₹14,801

• Listing At: BSE and NSE

The IPO consists of both fresh issue and offer for sale, indicating a mix of growth funding and partial exit by existing shareholders.

Amagi Media Labs IPO GMP (Grey Market Premium)

Latest GMP Status

As of 15th January 2026, the Amagi Media Labs IPO GMP is ₹31 per share. Based on the upper price band of ₹361, the estimated listing price is around ₹392, implying an expected listing gain of approximately 8.59%.

GMP Trend Table

What GMP Indicates

The GMP has shown volatility but remains firmly positive, reflecting investor optimism around listing gains. However, GMP is unofficial and should be used only as a sentiment indicator, not a guarantee of returns.

Amagi Media Labs IPO Subscription Status

As per the latest available data, the IPO has been subscribed 0.13 times overall. The category-wise subscription is as follows:

• Retail Investors: 0.52 times

• Non-Institutional Investors (NII): 0.08 times

• Qualified Institutional Buyers (QIB): 0.03 times

Subscription Analysis

Early subscription data suggests stronger interest from retail investors, while institutional participation is expected to pick up closer to the issue closing date. Large mainboard IPOs often see significant bids in the final hours.

About Amagi Media Labs Limited

Amagi Media Labs Limited is a leading adtech company focused on programmatic advertising and monetization solutions, particularly in the rapidly expanding Connected TV (CTV) ecosystem.

Business Overview

Amagi provides technology-driven advertising solutions to:

• Content publishers

• Streaming platforms

• Advertisers and media agencies

Its core offerings include:

• CTV ad monetization platforms

• Programmatic ad buying solutions

• Data-driven ad analytics

• Targeted advertising for digital and OTT platforms

Amagi operates globally, with a strong presence in North America, Europe, and Asia-Pacific markets, benefiting from the secular shift from traditional TV to digital and streaming platforms.

Financial Performance of Amagi Media Labs

Key Financial Highlights (₹ in Crores)

• Revenue (FY24): ₹942.24 Cr

• Revenue (FY25): ₹1,223.31 Cr

• Revenue Growth: 29.83% YoY

• PAT (FY24): -₹245.00 Cr

• PAT (FY25): -₹68.71 Cr

• Improvement in Losses: 71.95% reduction YoY

Financial Interpretation

• Strong topline growth reflects rising adoption of CTV and programmatic advertising.

• Losses have narrowed significantly, indicating improving operating leverage.

• Profitability remains a medium-term goal rather than an immediate outcome.

Valuation and Key Metrics

Valuation Perspective

• The IPO is loss-making, reflected in negative EPS and P/E.

• High Price-to-Book ratio suggests the issue is priced for future growth rather than current profitability.

• Valuation may appear expensive for conservative investors but could be justified if growth sustains.

Objectives of the Issue

The proceeds from the fresh issue will primarily be used for:

• Funding growth initiatives and expansion

• Investment in technology and platform development

• Strengthening working capital

• General corporate purposes

The OFS component will allow existing investors to partially monetize their holdings.

Strengths of Amagi Media Labs IPO

• Leadership in CTV and digital advertising space

• Strong revenue growth trajectory

• Global client base and scalable technology platform

• Improving operating metrics and narrowing losses

Risks and Concerns

• Company is still loss-making

• High valuation relative to current earnings

• Competitive adtech landscape

• Dependence on global digital ad spending cycles

Investment Outlook and Conclusion

The Amagi Media Labs IPO presents a growth-focused investment opportunity in India’s evolving digital advertising ecosystem. A GMP of ₹31 indicates moderate listing gains of around 8–9%, while long-term returns will depend on the company’s ability to achieve sustainable profitability.

This IPO may suit investors with a higher risk appetite and long-term horizon, particularly those looking to gain exposure to technology-led businesses. Conservative investors may prefer to wait for post-listing clarity on margins and profitability.

Disclaimer:
This article is for informational purposes only and does not constitute investment advice. IPO investments are subject to market risks. Investors should conduct their own research or consult a financial advisor before investing.

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