Amagi Media Labs share price: Stock lists at 12% discount on NSE; here's how much investors lost

Amagi Media Labs share price: Shares of cloud-managed services and advertising technology player Amagi Media Labs debuted at ₹318 apiece on the National Stock Exchange (NSE) on Wednesday, January 21. This reflects a discount of 11.91% against the issue price of ₹361 per share.

On the BSE, the stock started trading at ₹317, down 12.19% from the issue price.

Amagi Media Labs share price: Here's how much investors lost

A lot consisted of 41 shares. Investors who received Amagi Media Labs IPO allotment saw their investment value drop to ₹13,039 per lot.

The ₹1,788.62 crore initial share sale consisted of new shares valued at ₹816 crore and an offer for sale (OFS) of shares aggregating to ₹972.62 crore.

Under the OFS, Accel India VI (Mauritius) Ltd, Norwest Venture Partners X - Mauritius, PI Opportunities Fund II, Trudy Holdings, PI Opportunities Fund I, Rajat Garg, Rahul Garg, Kollengode Ramanathan Lakshminarayana, Rajesh Ramaiah and Prem Gupta offloaded their shares.

Funds raised to the tune of ₹550 crore will be used to strengthen the technology and cloud infrastructure of the company. The other objective includes inorganic growth through acquisitions and general corporate expenses.

The IPO was subscribed 30.22 times. It got bids for 82,40,12,260 shares compared to 2,72,66,589 shares on offer, as per the NSE data.

Prior to the IPO, the company mobilised ₹805 crore from anchor investors, including HDFC Mutual Fund, ICICI Prudential MF, SBI MF, Tata MF, Motilal Oswal MF, Franklin Templeton MF, Bandhan MF, Baroda BNP Paribas MF, PGIM MF, Fidelity, 360 One, HDFC Life Insurance, Bharti AXA, Isometry Capital, Goldman Sachs, Amundi and Edelweiss Tokio Life, among others.

Amagi Media Labs, incorporated in 2008, provides cloud-based broadcast and connected television technology. It provides solutions to media firms for distribution and monetisation of their videos.