What started as a satellite ad-tech experiment in 2008 is now one of India’s top global SaaS exports.
Amagi, the Bengaluru-headquartered cloud broadcasting and streaming infrastructure company, has officially filed its draft papers with SEBI to raise ₹1,020 crore through a fresh issue. The IPO will also include an Offer for Sale (OFS) by existing investors, including Accel, Norwest Venture Partners, and Premji Invest.
This move positions Amagi among a small but growing group of profitable Indian SaaS companies going public — with a global customer base and a strong play in the connected TV (CTV) space.
Founded by Baskar Subramanian, Srinivasan KA, and Srividhya Srinivasan, Amagi helps content owners like NBCUniversal, Roku, Samsung TV Plus, and Warner Bros. Discovery manage, distribute, and monetize live and on-demand content across linear and OTT platforms using cloud-based infrastructure.
Numbers That Stand Out:
- Revenue grew from ₹219 Cr in FY21 to ₹505 Cr in FY23
- Losses narrowed significantly in FY23
- Amagi turned cash-flow positive in recent quarters
- Backed by global investors: Accel, Norwest, Avataar Ventures, Premji Invest
Amagi’s platform is now used in over 40 countries and supports 700+ content brands — from niche FAST channels to global networks.
The IPO proceeds will fuel product innovation, global expansion, and deeper partnerships in the ad-supported streaming market, which is booming as linear TV evolves.
As global CTV adoption accelerates and India’s SaaS credibility grows, Amagi’s listing could signal a turning point: where Indian deeptech doesn’t just scale it lists, leads, and defines a global category.
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