Bengaluru-based SaaS company Amagi Media Labs Ltd is set to create significant wealth for its investors as it heads to the public markets, with marquee backers staring at multi fold returns ahead of the IPO.
According to its red herring prospectus, Amagi has fixed a price band of ₹343–₹361 per share for its ₹1,788.62 crore initial public offering. Analysis shows Premji Invest emerging as the biggest winner. PI Opportunity Fund, which invested about ₹114 crore at an average price of nearly ₹25.5 per share, is now sitting on a stake valued at over ₹1,610 crore at the upper end of the price band, translating into returns of more than 14 times. The fund will partially exit through an offer-for-sale of around 1.33 crore shares worth nearly ₹480 crore.
Other institutional investors are also set for strong gains. Norwest Venture Partners, with an investment of roughly ₹504 crore, is looking at a little over 2x returns, while Accel India’s ₹246 crore investment has grown to about ₹821 crore, generating more than 3x gains. Early backer Trudy Holdings has also seen its stake rise over three times in value.
Several angel investors have recorded outsized returns as well, with gains ranging from 5x to over 15x. The IPO will also substantially boost promoter wealth, with the combined holdings of Amagi’s founders now valued at over ₹1,000 crore.
Amagi’s IPO opens on January 13 and closes on January 16, with the anchor book opening on January 12.
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