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Bengaluru-based cloud media SaaS firm Amagi Media Labs has filed its Draft Red Herring Prospectus (DRHP) with SEBI and plans to raise Rs 1,020 crore ahead of its IPO. The company posted a strong financial turnaround in FY25, reducing losses by over 70% and boosting EBITDA margins.
The company’s operating revenue surged 32% to Rs 1,163 crore in FY25 from Rs 879 crore in FY24, according to its restated consolidated financial statement given in DRHP. Looking at the geographical distribution, the majority of Amagi’s revenue came from the America region, contributing Rs 847 crore or nearly 73% of the total, marking a 33% jump from FY24. Europe, including the UK, followed with Rs 202 crore (17% share), while Asia Pacific markets saw the sharpest growth at 77% to Rs 78 crore. Revenue from the Middle East and India stood at Rs 20 crore and Rs 16 crore respectively, with India doubling its contribution year-on-year.
On the expense side, Employee benefit expenses continued to be Amagi’s largest cost component, growing 5% to Rs 695 crore in FY25. Communication costs, the second-largest expense, rose 34% to Rs 364 crore. Other significant expenses included legal charges of Rs 68 crore, travel at Rs 28 crore, and membership & subscription costs of Rs 45 crore. Legal expenses notably declined by 25% from FY24. Overall, total expense rose 8% to Rs 1,275 crore in FY25 from Rs 1,179 crore in FY24. While total expenses grew modestly, Amagi managed to substantially reduce its losses by 72% to Rs 69 crore in FY25 from Rs 245 crore in the previous fiscal year. Its ROCE and EBITDA margin stood at -8.25% and -2.45% respectively.
On a unit basis, the company spent Rs 1.1 to earn a rupee of operating revenue in FY25. The company reported current assets worth Rs 1,272 crore in FY25 including Rs 492 crore in cash and bank balances. Amagi converted into a public company in May this year in preparation for the listing. The IPO is being managed by a consortium of banks, including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus.
About Amagi
Amagi has been co-founded by Baskar Subramanian, Srividhya Srinivasan, and Srinivasan KA. They are all software engineers and met during their graduate studies. Their earlier venture, Impulsesoft, was acquired by SiRF Technology, after which they founded Amagi in 2008. Baskar Subramanian serves as the Co-founder & CEO, Srividhya Srinivasan is a Co-founder, and Srinivasan KA is the Co-founder & CRO. Amagi is a cloud-based media SaaS technology company which provides a complete suite of solutions for content creation, distribution, and monetization. Sale of these services was the major source of revenue for the company.