eNews
Amagi gets Sebi green light to tap markets with fresh IPO
MUMBAI: If streaming is the new prime time, Amagi wants a prime spot on Dalal Street too. The Bengaluru based SaaS unicorn has secured Sebi approval to launch its initial public offering, setting the stage for one of the most closely watched tech listings of the year.
The IPO will combine a fresh issue of shares worth Rs 1,020 crore with an offer for sale of nearly 3.41 crore equity shares by existing investors, according to the company’s draft red herring prospectus. The selling shareholders include PI Opportunities Fund I and II, Norwest Venture Partners X Mauritius, Accel entities, Trudy Holdings, AVP I Fund and several individual stakeholders.
Amagi plans to channel Rs 667 crore from the fresh issue into beefing up its technology and cloud infrastructure, while the remainder will be set aside for acquisitions and general corporate purposes. The company may also explore a pre IPO placement of up to Rs 204 crore, which would reduce the size of the fresh issue.
Founded in 2008 by Baskar Subramanian, Srividhya Srinivasan and Arunachalam Srinivasan Karapattu, Amagi has made a name for itself as a cloud native media technology platform. Its software powers the delivery and monetisation of video content across smart televisions, smartphones and streaming apps. Backers include Accel, Avataar Ventures, Norwest Venture Partners and Premji Invest.
Amagi positions itself as the only end to end artificial intelligence driven cloud platform in the video segment of the media and entertainment industry. Its business spans cloud modernisation, streaming unification and monetisation services, serving a wide range of clients such as content creators, OTT platforms, telecom players, connected TV manufacturers and advertisers.
The company counts more than 45 per cent of the world’s top 50 listed media and entertainment companies as customers. Its financial performance has kept pace with its ambitions. Revenue from operations touched Rs 1,162 crore in FY25, reflecting a compound annual growth rate of 30.70 per cent over the last two years, powered by new sign ups and deeper engagement from existing clients.
Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India Securities, IIFL Capital Services and Avendus Capital will act as book running lead managers for the IPO. Once listed, Amagi’s shares will trade on both BSE and NSE.
eNews
Paisabazaar launches Credit Premier League 2.0
Nationwide campaign rewards highest credit scores with Rs 1 lakh top prize.
MUMBAI: When credit scores become a national league, even your CIBIL report starts feeling like it’s playing in the IPL and Paisabazaar has just kicked off the second season. Paisabazaar, India’s leading marketplace for financial products and the country’s largest free credit score platform, has announced the return of the Credit Premier League (CPL) 2.0, a fun, nationwide initiative to recognise and reward individuals with the highest credit scores.
Building on the success of the first edition, CPL 2.0 introduces higher rewards and broader participation. The individual(s) with the highest credit score in the country will win Rs 1 lakh, while state champions will each receive Rs 10,000. Additionally, all participants from the winning state, the one with the highest average credit score will also be rewarded.
All winnings will be credited directly to winners’ PB Wallet, allowing them to pay credit card bills, recharge mobiles, or settle utility bills seamlessly on the Paisabazaar platform.
Paisabazaar CEO Santosh Agarwal said the campaign aims to make credit awareness more engaging and mainstream. “With CPL, we are bringing together engagement, gamification and rewards to make conversations around credit scores more mainstream,” he noted. “Our focus remains on building a financially aware and credit-healthy Bharat.”
The first edition of CPL saw over 5.5 million participants, with the highest individual score touching 861. Delhi recorded the highest average credit score of 746.
Consumers can participate simply by checking their free credit score on the Paisabazaar platform or app. The CPL leaderboard and rankings will be available exclusively on the Paisabazaar App.
In a country where financial dreams are serious business, Paisabazaar has found a smart way to turn credit scores into an exciting game – because when your financial health gets rewarded, everyone wants to play.
