Amagi Media IPO: Anchor Round Garners Rs 804 Crore Mostly From Mutual Funds
The initial public offering of Amagi Media Labs will open for subscription on Jan. 13, and will close on Jan. 16.
Amagi Media Labs Ltd. on Monday raised Rs 804 crore from issuing shares to large institutions in the pre-IPO anchor allocation round. The company issued 2.2 crore equity shares at Rs 361 apiece to 42 entities, according to a stock exchange filing.
Around 76% of the total allocation to anchor investors were allocated to 11 domestic mutual funds through a total of 28 schemes. Another 6.7% were allocated to three life insurance companies including HDFC Life, Bharti AXA Life Insurance and Edelweiss.
The initial public offering of Amagi Media Labs will open for subscription on Jan. 13, and will close on Jan. 16. The Rs 1,788 crore issue comprises a fresh issue of shares worth Rs 816 crore along with an offer-for-sale of 2.7 crore shares valued Rs 972.6 crore, at the upper price band, by existing shareholders shares.
The price-band of the public offer is Rs 343-Rs 361. Investors can apply for a minimum of one lot of 41 shares and in multiples thereafter.
As a part of the OFS, PI Opportunities Fund I, PI Opportunities Fund II, Norwest Venture Partners X – Mauritius, Accel India VI (Mauritius) Ltd. and Trudy Holdings, and certain individual selling shareholders will be offloading shares.
The book-running lead managers to the issue are Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, IIFL Capital Services, and Avendus Capital.
The allotment of shares to IPO investors will be done tentatively on Jan. 19, and it will be credited to the demat account will be done on Jan. 20. Amagi Media Labs will list on the BSE and NSE on Jan. 21.
Of the total issue size, 75% is reserved for qualified institutional buyers, 15 % for non-institutional investors, and the remaining 10% for retail investors.
