Amagi Media Labs IPO Day 3: Early Bidding Shows Gradual Build-Up as Final Day Subscription Begins

Bengaluru, January 16, 2026: Amagi Media Labs Limited’s initial public offering entered its final day of bidding on Friday morning, with early subscription data indicating a steady but measured response from investors across categories. The ₹1,788.6 crore issue opened for subscription on January 13 and will close later today.
The cloud-based SaaS company, which recently raised about ₹805 crore from anchor investors, is offering shares in a price band of ₹343 to ₹361 per share.

Price-Wise Cumulative Bid Position (Early Morning)​

As of 10:41 AM on January 15, cumulative bids across exchanges showed demand clustering near the upper end of the price band, reflecting investor preference for cut-off and higher-price bids on the final day.
The distribution suggests that while bids are spread across the band, a significant portion is expected to move toward the cut-off price as the session progresses.

Subscription Status by Investor Category (End of Day 2)​

Based on cumulative demand data available as of 5:00 PM on January 14, the IPO was subscribed 0.13 times overall.

Retail Interest Leads Early Demand​

Retail investors continued to anchor early demand, with the RII segment nearing half subscription by the end of Day 2. Of the retail bids, over 21.23 lakh shares were bid at the cut-off price, indicating price-agnostic participation from smaller investors.
Institutional participation remained subdued in the first two days, a trend often seen in large issues where QIBs typically place bids closer to the closing hours on the final day.

Issue Structure and Company Snapshot​

The IPO comprises a fresh issue of ₹816 crore and an offer for sale of 2.7 crore shares worth ₹972.6 crore at the upper price band. Proceeds from the fresh issue will be used to strengthen technology and cloud infrastructure, fund inorganic growth, and meet general corporate requirements over FY26 to FY28.
Founded in 2008, Amagi Media Labs operates a cloud-native platform spanning cloud modernisation, streaming unification, and advertising monetisation, working with over 45 percent of the top 50 media and entertainment companies in India by revenue. The company reported ₹1,162 crore in revenue in FY25 and posted a profit in the six months ended September 2025.

Amagi Media Labs IPO GMP Trend and Market Caution​

The grey market premium for Amagi Media Labs has shown moderation in the final days of the IPO, even as bidding activity remained muted through most of the issue period. On the closing day, the IPO was commanding a GMP of ₹27, unchanged from the previous session, indicating stable but cautious sentiment in the unofficial market.
At the current GMP level, the estimated listing price is around ₹388 per share, translating into a potential upside of about 7.5 percent over the upper issue price of ₹361. Earlier in the IPO timeline, GMP had peaked above ₹40 levels but gradually cooled as the issue progressed.

Amagi Media Labs IPO Day-wise GMP Trend​

*Estimated profit or loss is calculated per market lot based on GMP.

Important Note on Grey Market Data​

The GMP figures presented above are only indicative of unofficial grey market trends and are meant strictly for news and informational purposes. We do not trade or deal in the grey market, do not participate in sub2 or sauda rates, and do not recommend investors to buy or sell shares based on GMP data.
Grey market premiums are unregulated, speculative, and subject to rapid change, especially during the final days of an IPO. Investors are advised to base decisions on company fundamentals, financial disclosures, and risk appetite rather than unofficial market signals.