Amagi Media Labs, a Bengaluru-headquartered cloud-based SaaS company serving the global media and entertainment industry, launched its Initial Public Offering (IPO) on January 13, 2026, with subscriptions open until January 16, 2026. The IPO aims to raise ₹1,789 crore through a fresh issue of ₹816 crore and an Offer for Sale (OFS) of ₹973 crore, with shares priced between ₹343 and ₹361 per share. A key aspect of Amagi's IPO is a significant 'valuation reset.' The company's IPO valuation at the upper end of the price band is approximately ₹7,810 crore ($869 million), representing a 38% reduction from its $1.4 billion private valuation in 2022. This adjustment reflects more conservative market conditions and a heightened investor focus on profitability. Analysts note the absence of clear listed comparable companies, both in India and globally, which makes traditional valuation benchmarking difficult for investors. Ahead of the public offering, Amagi successfully raised ₹804.87 crore from 42 anchor investors on January 12, 2026. Domestic mutual funds, including SBI Mutual Fund, ICICI Prudential Mutual Fund, and HDFC Mutual Fund, collectively subscribed to a substantial portion of this anchor book. While the IPO saw a slow start on its first day of subscription, with only about 5-7% overall subscription, the retail portion showed relatively more interest. Amagi, which generates nearly 90% of its revenue from the US and Europe, reported turning profitable in the first half of FY26, with a net profit of ₹6.4 crore against a loss in the previous year.