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BENGALURU, Jan 8 (Reuters) - General Atlantic-backed Amagi Media Labs AMAI.NS is eyeing a valuation of more than $869 million through its downsized initial public offering, which opens for bids next week.

Amagi has set a price band of 343 rupees to 361 rupees per share ($3.82-$4.02) for its $199 million share sale. The bids are set to open on January 13 and close on January 16. Anchor investors can bid on January 12, a newspaper advertisement showed early on Thursday.

The Bengaluru-based company will issue new shares worth 8.16 billion rupees, compared with its initial plan of 10.2 billion rupees.

The offering comes as India's booming IPO market attracts technology-driven companies such as Groww BILO.NS, Lenskart LENS.NS and Meesho MEES.NS, all looking to capitalize on strong investor appetite.

Amagi's existing shareholders such as Norwest Venture Partners, Accel India and Premji Invest are planning to sell 26.9 million shares, compared with 34.2 million targeted earlier.

It was not immediately clear why the offering was trimmed. Amagi did not immediately respond to a Reuters request for comment.

Amagi is a cloud-based software provider for the broadcast and streaming TV industries. The company counts A+E Networks UK, ABS-CBN, Lionsgate Studios and NBCUniversal [RIC:RIC:NEII.UL] among its clients.

It was last valued at $1.4 billion in 2022 after a $100 million fundraise from General Atlantic.

The firm posted a profit of 64.7 million rupees for the six months ended September 30, 2025, compared with a loss of 660.08 million rupees a year ago.

($1 = 89.8430 Indian rupees)

(Reporting by Haripriya Suresh in Bengaluru and Kanjyik Ghosh in Barcelona; Editing by Shilpi Majumdar)

((haripriya.suresh@thomsonreuters.com))