Amagi allotted 2,22,95,799 equity shares to 42 anchor investors at Rs 361 per share, the upper end of the price band, aggregating to approximately Rs 805 crore. The allocation includes a mix of 35 resident and seven non-resident investors, spanning domestic mutual funds, global long-only funds, insurance companies and institutional investors.
Besides the top three domestic mutual funds, the anchor book features a broad roster of well-known investors, including Birla Mutual Fund, Fidelity, Motilal Oswal Mutual Fund, Tata Mutual Fund, Franklin Templeton Mutual Fund, Baroda BNP Paribas Mutual Fund, Amundi, PGIM Mutual Fund, Bandhan Mutual Fund and 360One. Global institutions such as Goldman Sachs, Societe Generale, Susquehanna International (SIG), Isometry Capital and New Vernon Capital also participated, alongside insurers such as HDFC Life Insurance, Edelweiss Tokio Life and Bharti Axa. Helios Capital, including its mutual fund arm, and Creaegis were also among the anchor investors.
Amagi’s IPO is set to be first listing from the deep-tech and SaaS segment in the private sector this year, adding to its significance in an otherwise cautious primary market environment.
The issue is expected to be closely watched as a barometer of institutional appetite for technology-driven business models after a muted period for new-age listings.
The public issue, which opens on January 13, will close on January 16. The bidding period has been extended to four days due to local municipal corporation elections in Maharashtra, which led to a trading and settlement holiday on January 15.
The IPO comprises a fresh issue and an offer for sale, with fresh issue proceeds of Rs 816 crore earmarked for investments in technology and cloud infrastructure, funding inorganic growth through unidentified acquisitions, and general corporate purposes. The company has positioned these investments as critical to scaling its platform and strengthening its global footprint in advertising technology.
Amagi operates in the advertising technology space, focusing on data-driven solutions for media companies and advertisers, particularly in connected TV and digital advertising.