SaaS Unicorn Amagi Gets SEBI Nod for IPO

SaaS unicorn Amagi receives SEBI approval for its IPO, a major test for the Indian tech market and broadcast technology sector.

Indian SaaS unicorn Amagi has secured the crucial final approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering, marking a watershed moment for the country's broadcast technology sector. The IPO comprises a fresh issue of shares worth ₹1,020 crore and a significant offer-for-sale of 3.4 crore shares by investors and founders. This milestone is a major litmus test for market sentiment towards high-growth, yet profit-focused, Indian tech companies and could pave the way for a new wave of SaaS IPOs from the region.

This regulatory green light starkly contrasts with the more cautious approach seen in previous years, signaling a maturation of India's public capital markets. Amagi, which provides cloud-based broadcast and streaming technology to major media giants, represents a breed of B2B SaaS firms with strong global clients and a clear path to profitability. This matters because its successful debut will validate the venture capital investment thesis in Indian enterprise tech and demonstrate the ability of homegrown companies to achieve global scale and secure a premium public valuation.

For global investors and the Indian startup ecosystem, the Amagi IPO is a bellwether event. It will set a critical benchmark for how public markets value growth, margins, and the total addressable market for Indian SaaS. The forward-looking insight is clear: a strong listing will unlock a fresh cycle of liquidity events, providing exits for early backers and fueling further investment into the sector. Conversely, a tepid response could cool the exuberance, forcing a sharper focus on unit economics and sustainable growth for the next cohort of unicorns awaiting their own public listing.