Amagi Media Labs opens today: From GMP to issue price, 5 ‘must know’ details

Amagi Media Labs opens its initial public offering today, January 13. The cloud-based television technology company is entering the primary market with a mainboard issue. Let’s take a look at the key details of this IPO- Amagi Media Labs IPO: Key dates of the issue The public issue of Amagi Media Labs opens for subscription today, January 13. A mainboard issue, it will remain available to investors until January 16. Amagi Media Labs IPO: Issue price and fundraising plan of the issue The company has fixed the price band for the IPO at Rs 343-361 per equity share. Through this issue, Amagi Media Labs plans to raise a total of Rs 1,789 crore. Now talking of the fund utilisation, of this amount, Rs 816 crore will come from the fresh issue of shares, while the remaining Rs 973 crore will be raised through an Offer for Sale, where existing shareholders will sell part of their holdings. Amagi Media Labs IPO: Grey Market Premium trend Ahead of the opening, Amagi Media Labs shares have been trading in the grey market at a premium of Rs 16 over the issue price. This translates to an estimated listing price of Rs 377, which is 4% higher over the issue price. Meanwhile, it is important to note that GMP is not the official listing price and fluctuates based on market sentiment. Amagi Media Labs IPO: Allotment and Listing Schedule The allotment of shares is expected to be finalised around January 17. Since the date falls on a Saturday, the process may extend to January 19. Once allotment is completed, the company’s shares are likely to be listed on the stock exchanges on January 21. Amagi Media Labs IPO: Key details investors should track The public issue is being managed by multiple investment banks, including Kotak Mahindra Capital, Citigroup Global Markets, Goldman Sachs (India), IIFL Capital Services, and Avendus Capital. MUFG Intime India Private has been appointed as the registrar for the issue.