Just Dial standalone net profit rises 13.05% in the June 2025 quarter
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Economic Times
5 minutes ago
- Economic Times
SaaS unicorn Amagi Media Labs files DRHP with Sebi, to raise Rs 1,020 from fresh issue
Amagi Media Labs, a SaaS company, has filed for an IPO with SEBI, planning to raise ₹1,020 crores through fresh capital and an offer for sale of 3.41 crore equity shares. Amagi Media Labs, a SaaS company, has filed for an IPO with Sebi. The IPO includes a fresh issue of shares and an offer for sale. The company aims to raise funds for technology, cloud infrastructure, and acquisitions. Amagi works with media companies, content providers, and advertisers. The company reported revenue growth and improved EBITDA margin. Tired of too many ads? Remove Ads About Amagi Media Labs Tired of too many ads? Remove Ads Amagi Media Labs IPO OFS Amagi Media Labs IPO proceeds utiliasation Amagi Media financials Lead managers Tired of too many ads? Remove Ads Software-as-a-service (SaaS) company Amagi Media Labs Limited has filed Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India ( Sebi ). The initial public offering (IPO) will be a mix of fresh issue and an offer for sale (OFS).The company plans to raise Rs 1,020 crores to be raised as fresh capital while selling shareholders will offer 3.41 crore equity company, in consultation with the Book Running Lead Managers (BRLMs) may consider a pre-IPO placement aggregating up to Rs 204 crores prior to filing of the Red Herring Prospectus with the ROC. If the Pre- IPO Placement is undertaken, then the fresh issue will be reduced to the extent of such Pre-IPO Bengaluru-headquartered company was founded in 2008 by its promoter Baskar Subramanian who is the Managing Director & CEO of the company. Srividhya Srinivasan and Arunachalam Srinivasan Karapattu are other promoters of the company. While the former is the Chief Technology Officer, the latter is President—Global Media connects media companies to their audiences through cloud-native technology and helps content providers and distributors upload and deliver video over the internet (streaming) through smart televisions, smartphones and company is backed by leading venture capital firms including Accel , Avataar Ventures, Norwest Venture Partners, and Premji Invest. The company works with more than 45% of the top 50 listed 'media and entertainment' companies by revenue according to the claims made by it in the draft part of the OFS, the investor selling shareholders are PI Opportunities Fund I, PI Opportunities Fund II, Norwest Venture Partners X – Mauritius, Accel India VI (Mauritius) Ltd., Accel Growth VI Holdings (Mauritius) Ltd., Trudy Holdings, AVP I Fund, and certain individual selling proposes to utilise Rs 667 crores from the net proceeds of the fresh issue towards investment in technology and cloud infrastructure. It also plans to fund the inorganic growth through unidentified acquisitions and general corporate is the end-to-end, AI-enabled cloud platform in the video category of the Media & Entertainment (M&E industry) serving as the 'industry cloud' for the sector. It's business is organised across three key divisions - Cloud Modernization, Streaming Unification and monetisation & marketplace which addresses the requirements of three main categories of customers - Content Providers, Distributors (such as OTT platforms, telecom operators, and smart television manufacturers) and Advertising platforms & reported revenue from operations of Rs 1,162 crores in FY25, recording a compound annual growth rate of 30.70% from FY2023 to FY2025, driven by new customer acquisition and increased use of the platform by existing customers. Amagi's adjusted EBITDA margin improved significantly to 2.02% in FY25, compared to (17.69%) in FY24 and (20.62%) in Mahindra Capital Company Limited, Citigroup Global Markets India Private Limited, Goldman Sachs (India) Securities Private Limited, IIFL Capital Services Limited , and Avendus Capital Private Limited are the Book Running Lead Managers to the equity shares of the company are proposed to be listed on BSE and NSE.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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Business Standard
5 minutes ago
- Business Standard
RBI grants 1-month extension to IndusInd Bank's committee of executives
The Reserve Bank of India (RBI) has approved extending by a month the tenure of IndusInd Bank's 'committee of executives' – who are running the bank in the absence of a managing director (MD) and chief executive officer (CEO). The extension would be with effect from July 29 to August 28 or until the new MD & CEO is appointed and assumes charge, whichever is earlier, IndusInd Bank informed the exchanges late on Friday. In April, the bank had received RBI's approval to constitute a 'committee of executives', which will discharge the duties, roles and responsibilities of the bank CEO, following Sumant Kathpalia's resignation from the position, under the guidance of an oversight committee of the board, headed by chairman of the board, Sunil Mehta. The bank's 'committee of executives' comprises Soumitra Sen, head – Consumer Banking, and Anil Rao, chief administrative officer. The 'committee of executives' oversees the operations of the bank, under the oversight and guidance of an oversight committee of the board, headed by chairman of the board, along with members, including the chairs of the audit committee, the compensation and nomination and remuneration committee, and the risk management committee. Currently, as it stands, the banks' board is without a whole-time member following the resignations of CEO and deputy CEO. Sen, who is part of the 'committee of executives', joined IndusInd Bank in 2008 to revamp and scale up the bank's distribution network. He started the MNC food giant, Nestle, before moving on as a retail banker. He has worked with Bank of America and thereafter had stints with Deutsche Bank AG, ABN AMRO Bank NV and RBS, before moving to IndusInd Bank. Separately, the bank in an exchange notification disclosed that Zubin Mody, chief human resources officer and senior management personnel of the bank, has tendered his resignation, with effect from July 25, to pursue new opportunities outside, after a two-decade stint with the bank. Mody's exit from the bank comes after Sumant Kathpalia, the erstwhile MD & CEO of IndusInd Bank, resigned in April, citing 'moral responsibility' for 'various acts of commission/omission' following accounting lapses that resulted in a loss of nearly Rs 2,000 crore. Additionally, the erstwhile deputy CEO Arun Khurana resigned in connection with the same accounting issues. Previously, in January, the chief financial officer (CFO) of the bank had resigned.
Time of India
15 minutes ago
- Time of India
Employee who worked 10 hours a day gets laid off without warning: 'Spent Rs 30K from my savings, worked weekends'
Community Responses to the Experience A young intern, who had relocated from their hometown to Gurgaon in search of a promising career opportunity, recently shared their distressing experience online. The individual had joined a company with high hopes, expecting to learn and grow under the direct supervision of the company's founder. Committed to the role, the intern invested long working hours—between 10 and 12 hours each day—without complaint and even stepped in to support operations over the weekends whenever the intense workload and dedication shown throughout the internship, the experience ended abruptly and without warning. The company unexpectedly terminated the intern's position after just 23 days. The reason given was that a significant client, whose business greatly contributed to the company's revenue, had decided to sever ties, resulting in a sudden downturn for the firm. Without notice or consideration for the intern's efforts, the management decided to let them intern had initially been assured that their hard work would pay off, with the promise of a permanent role after three months and a starting salary of Rs 40,000. However, this assurance quickly crumbled, leaving the intern feeling betrayed, deeply disappointed, and regretful about placing trust in the founder's words. They expressed how disheartening it is to face unemployment in a costly city like Gurgaon, especially amid an already challenging job market. They also revealed they had spent Rs 30K of their intern posted their story on the popular online forum Indian Workplace, where several users empathized with their situation. Some advised against being overwhelmed by negativity, suggesting that daily applications on platforms like LinkedIn—despite the prevalence of questionable listings—could still result in a few genuine interview calls each commented on the volatile nature of startups in Gurgaon, comparing them to small street food vendors—profitable only when business is booming, but quick to shut down and cut costs during downturns. They recommended pursuing opportunities with multinational corporations (MNCs) or larger startups with structured systems, ideally in more stable cities such as Bangalore or Pune, where professional environments are more consistent and employee-friendly.
