India's SEBI Approves IPOs for Amagi Media Labs, Fractal Analytics, and Sahajanand Medical

India's capital markets regulator, the Securities and Exchange Board of India (SEBI), has granted approval for public offerings by three companies: Amagi Media Labs, Fractal Analytics, and Sahajanand Medical Technologies. This approval is a significant milestone for these firms as they prepare to raise funds through initial public offerings (IPOs). The funds are expected to be allocated towards technology enhancements, acquisitions, and general corporate purposes.

Amagi Media Labs

Founded in 2008 and based in Bengaluru, Amagi Media Labs focuses on providing cloud-native technology solutions to media companies, facilitating content delivery across various platforms, including smart TVs and smartphones. The company's IPO consists of a fresh issue of equity shares valued at up to ₹1,020 crore, alongside an offer for sale (OFS) of up to 3.41 crore shares by existing shareholders. The proceeds from the fresh issue are intended for investments in technology and cloud infrastructure, as well as for supporting acquisitions and corporate needs. In the fiscal year 2025, Amagi reported a revenue of ₹1,162 crore, reflecting a compound annual growth rate (CAGR) of 30.7% from FY2023 to FY2025.

Fractal Analytics

Established in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal Analytics is a leader in enterprise artificial intelligence, providing comprehensive AI solutions across various sectors. The company plans to raise ₹1,279.3 crore through a fresh issue and has an additional offer for sale worth ₹3,620.7 crore from its shareholders. The funds will be used for several purposes, including debt repayment, technology upgrades, and expansion of its AI products. In FY2025, Fractal reported a revenue increase of 25.9%, with a profit after tax of ₹22 crore, a significant turnaround from a loss the previous year.

Sahajanand Medical Technologies

Founded in 2001, Sahajanand Medical Technologies is a medical device company renowned for its innovation in vascular and structural heart interventions. The IPO will consist solely of an offer for sale of up to 2.76 crore shares by its promoters. The company has shown consistent revenue growth, reaching ₹1,024.88 crore in FY2025. The proceeds from the IPO will likely support the company's ongoing growth and development in the medical device sector.

The approval from SEBI allows these companies to proceed with their public offerings, with each company set to announce its Red Herring Prospectus (RHP) soon. The RHP will detail the issue size, pricing, and other critical information for potential investors. Kotak Mahindra Capital, Citigroup Global Markets India, Goldman Sachs (India) Securities, and other leading firms are serving as book-running lead managers for these IPOs.

As India's IPO market continues to evolve, the anticipated public offerings reflect the growing interest in technology and healthcare sectors. Investors are expected to closely monitor these offerings, which indicate the increasing opportunities within India's burgeoning capital markets.