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
PNB partners Kiwi to launch credit-enabled UPI for users
Targets 180 million customers; RuPay card offers 0.5 per cent to 1.5 per cent cashback
MUMBAI: Swipe, tap, or scan credit is quietly slipping into the rhythm of everyday payments, and Punjab National Bank wants in on the action. The state-run lender has partnered with Kiwi to roll out credit-enabled UPI payments for its 180 million customers, marking a significant push to blend traditional banking with India’s fast-evolving digital payments ecosystem.
At the centre of the collaboration is the launch of the PNB Kiwi Credit Card on the RuPay network. The card is designed with a digital-first approach, offering fully online onboarding and seamless integration with UPI, allowing users to transact via scan-and-pay while accessing credit.
The offering also brings in a rewards layer, with cashback ranging from 0.5 per cent to 1.5 per cent on online transactions, positioning the product as both a convenience play and a spending incentive.
The move comes as UPI continues to dominate India’s digital payments landscape, increasingly blurring the lines between debit-led transactions and credit access. For PNB, which operates over 10,000 branches around 60 per cent in semi-urban and rural areas, the partnership signals a targeted effort to extend formal credit to segments that have traditionally remained underserved.
The collaboration also reflects a broader industry shift, where banks and fintech platforms are converging to embed credit directly into payment flows, reducing friction while expanding access.
With RuPay credit cards gaining traction and UPI evolving beyond peer-to-peer transfers, the PNB–Kiwi tie-up positions both players at the intersection of scale, accessibility, and the next phase of digital finance in India.
