Three well-known companies—Fractal Analytics, Sahajanand Medical Technologies, and Amagi Media Labs—have received the green light from the Securities and Exchange Board of India (SEBI) to go ahead with their initial public offerings. The approvals came in the form of SEBI “observations” issued between November 17 and 18, which is essentially the regulator’s final nod to launch a public issue.
The approvals have sparked fresh buzz in the market as India continues to witness a strong IPO pipeline heading into 2025.
Fractal Analytics IPO: AI Firm Targets ₹4,900 Crore
Fractal Analytics is gearing up for one of the larger tech IPOs of the season, eyeing a total fundraise of around ₹4,900 crore.
The issue includes:
- Fresh equity sale: ₹1,279.3 crore
- Offer for sale (OFS): ₹3,620.7 crore by existing shareholders, including Quinag Bidco Ltd, TPG Fett Holdings, Satya Kumari Remala, Rao Venkateswara Remala, and GLM Family Trust.
Read More :- India Inc Sep 2025 Results: Strong Quarter for Tata Steel, FSN E-Commerce & Piramal Finance
According to the DRHP, the fresh capital will be steered toward investing in its US subsidiary, prepaying borrowings, opening new offices, R&D, sales expansion under Fractal Alpha, and potential acquisitions.
Founded in 2000 by Srikanth Velamakanni and Pranay Agrawal, Fractal is one of the most recognised Indian-born AI and analytics players. With clients across global industries and backing from marquee investors like TPG and Apax, the company aims to strengthen its position in the booming AI solutions market.
Amagi Media Labs: SaaS-Based Cloud Broadcast Firm Plans Major Expansion
Bengaluru-based Amagi Media Labs, known for its cloud-driven media delivery technology, has also secured SEBI approval.
The IPO structure includes:
- Fresh issue: ₹1,020 crore
- OFS: Up to 3.41 crore shares by existing investors.
Amagi plans to allocate ₹667 crore from the fresh issue to upgrade its technology stack and cloud infrastructure. A portion will also be set aside for acquisitions and general corporate purposes.
Founded in 2008, Amagi offers cloud-native media distribution solutions that help broadcasters and streaming platforms deliver video over the internet—bypassing traditional cable or set-top boxes. With digital streaming on the rise globally, Amagi’s market positioning looks especially strong.
Sahajanand Medical Technologies: Medical Device Maker to Launch OFS-Only IPO
Sahajanand Medical Technologies (SMT), a major manufacturer of cardiac stents and other vascular intervention devices, has filed for an IPO comprising only an OFS of 2.76 crore equity shares.
The selling shareholders include Shree Hari Trust, Kotak Pre-IPO Opportunities Fund, Samara Capital Markets Holding, and NHPEA Sparkle Holding BV.
Founded in 2001, SMT operates R&D centres in both India and Thailand and is considered one of the prominent names in the medical devices and structural heart solutions space.
Read More :- Emmvee Photovoltaic IPO Listing Today: GMP at ₹0, Will Shares List at Discount?
A Busy IPO Season Ahead
With several high-profile companies already in the queue, 2025 is shaping up to be another intensive year for India’s primary markets. Investor appetite for tech, healthcare, and SaaS-driven companies continues to grow—especially those with strong fundamentals, global operations, and long-term scalability.
More details on issue dates, price bands, and listing timelines are expected once the firms file updated documents.
