Amagi Media Labs IPO sees 3% Day 1 bids; analysts still recommend subscribe

Amagi Media Labs has launched its IPO to raise ₹1,789 crore through a mix of fresh issue and offer for sale, with shares priced between ₹343 and ₹361 each.

The IPO opened for public subscription today, January 13, and has seen a modest response so far. By 11:30 am on Day 1, the issue was subscribed around 3 percent, with bids received for about 7.64 lakh shares against the total offer of 2.73 crore shares.

Retail investors have shown the most enthusiasm, subscribing nearly 13 percent of their allotted quota. Non-institutional investors have subscribed about 2 percent, while institutional investors are yet to make any meaningful bids.

Meanwhile, the grey market premium (GMP) has eased and is lower than the 10.25 percent level seen a couple of days ago, indicating slightly softer market sentiment.