Amagi Media Labs IPO listing: Shares of Amagi Media Labs witnessed a lower-than-expected stock market debut on Wednesday, January 21, as they listed at a significant discount of 12% to the initial public offering (IPO) price.
Amagi Media Labs' share price was listed at ₹317 on the BSE, down 12.19% to the IPO price of ₹361. At the same time, on NSE, Amagi Media Labs stock opened 11.91% lower at ₹318.
The listing missed expectations as signalled by the grey market premium (GMP). Ahead of the debut, Amagi Media Labs IPO GMP was - ₹1, signalling a flat start against the offer price.
However, within 20 minutes of listing, Amagi Media Labs recouped most losses and was trading just 2% below its IPO price but 11.6% above the listing price on BSE.
Amagi Media Labs IPO details
The offer had received a healthy response from investors, garnering over 30 times the bids during the bidding period from January 13 to January 16.
Amagi Media Labs IPO received bids for 82,40,12,260 shares against 2,72,66,589 shares on offer, as per NSE data, resulting in 30.22 times subscription.
The quota for non-institutional investors fetched 37.36 times subscription, while the category for qualified institutional buyers got subscribed 33.77 times. The portion for retail individual investors received 9.31 times subscription.
Amagi Media Labs IPO was priced at ₹343-361 per share, valuing the company at over ₹7,800 crore at the upper end of the band.
The IPO comprised a fresh issue of shares worth ₹816 crore, along with an offer-for-sale (OFS) of 2.7 crore shares valued at ₹972.6 crore at the upper price band by existing shareholders, taking the total issue size to ₹1,788.6 crore.
The company plans to use proceeds from the fresh issue to strengthen Amagi's technology and cloud infrastructure, fund inorganic growth through acquisitions, and meet general corporate expenses.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital were the book-running lead managers to the offer.
Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.
