Overview

• Amagi has formally submitted a draft red herring prospectus to SEBI proposing a fresh equity issue of up to ₹1,020 crore alongside an offer-for-sale of 3.41 crore shares by existing investors.
• The company plans to allocate ₹667 crore from the fresh issue toward technology upgrades and cloud infrastructure, with the remaining funds reserved for acquisitions and general corporate purposes.
• Venture backers including PI Opportunities Fund I and II, Norwest Venture Partners and Accel intend to partially exit through the offer-for-sale component.
• Amagi may execute a pre-IPO placement of up to ₹204 crore prior to its public filing, which would proportionately reduce the size of the fresh issue.
• Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs India Securities, IIFL Capital and Avendus Capital have been appointed as book-running lead managers, and the shares are slated for listing on both BSE and NSE.