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<!--REG30 V1.0 (16-10-2025)-->
<xbrli:xbrl xmlns:in-capmkt="http://www.sebi.gov.in/xbrl/2025-08-31/in-capmkt" xmlns:in-capmkt-ent="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt/in-capmkt-ent" xmlns:in-capmkt-roles="http://www.sebi.gov.in/xbrl/Regulation_30_Restructuring/2025-08-31/in-capmkt-roles" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:nonnum="http://www.xbrl.org/dtr/type/non-numeric" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:net="http://www.xbrl.org/2009/role/net" xmlns:num="http://www.xbrl.org/dtr/type/numeric" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:negated="http://www.xbrl.org/2009/role/negated" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xl="http://www.xbrl.org/2003/XLink"><link:schemaRef xlink:type="simple" xlink:href="in-capmkt-ent-2025-08-31.xsd"/><xbrli:context id="OneI"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">AMAGI</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:instant>2026-09-01</xbrli:instant></xbrli:period></xbrli:context><xbrli:context id="OneD"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">AMAGI</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-01</xbrli:startDate><xbrli:endDate>2026-09-01</xbrli:endDate></xbrli:period></xbrli:context><xbrli:context id="D_UnitOrDivisionOrSubsidiary1"><xbrli:entity><xbrli:identifier scheme="http://www.sebi.gov.in/in-capmkt/NSESymbol">AMAGI</xbrli:identifier></xbrli:entity><xbrli:period><xbrli:startDate>2026-09-01</xbrli:startDate><xbrli:endDate>2026-09-01</xbrli:endDate></xbrli:period><xbrli:scenario><xbrldi:typedMember 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contextRef="OneI">544679</in-capmkt:ScripCode><in-capmkt:NameOfTheCompany contextRef="OneI">Amagi Media Labs Limited</in-capmkt:NameOfTheCompany><in-capmkt:NSESymbol contextRef="OneI">AMAGI</in-capmkt:NSESymbol><in-capmkt:MSEISymbol contextRef="OneI">NOTLISTED</in-capmkt:MSEISymbol><in-capmkt:ISIN contextRef="OneI">INE121R01077</in-capmkt:ISIN><in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">New</in-capmkt:TypeOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring contextRef="OneD">Sale or disposal of unit(s)/division(s)/subsidiary</in-capmkt:TypeOfEventOfAnnouncementPertainingToRegulation30Restructuring><in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting contextRef="OneD">false</in-capmkt:WhetherEventOrInformationDisclosedIsAnOutcomeOfBoardMeeting><in-capmkt:DateOfOccurrenceOfEvent contextRef="OneI">2026-08-31</in-capmkt:DateOfOccurrenceOfEvent><in-capmkt:TimeOfOccurrenceOfEvent contextRef="OneD">16:30:00</in-capmkt:TimeOfOccurrenceOfEvent><in-capmkt:DateOfReport contextRef="OneI">2026-09-01</in-capmkt:DateOfReport><in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1">Subsidiary</in-capmkt:TypeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="I_UnitOrDivisionOrSubsidiary1">Argoid Analytics Private Limited</in-capmkt:NameOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-7">0</in-capmkt:PreviousYearTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfTurnoverOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" 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decimals="INF">0</in-capmkt:PreviousYearPercentageOfIncomeOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="INR" decimals="-7">0</in-capmkt:PreviousYearNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity contextRef="D_UnitOrDivisionOrSubsidiary1" unitRef="pure" decimals="INF">0</in-capmkt:PreviousYearPercentageOfNetWorthOfUnitOrDivisionOrSubsidiaryOfTheListedEntity><in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto contextRef="OneI">2025-11-17</in-capmkt:DateOnWhichTheAgreementForSaleHasBeenEnteredInto><in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal contextRef="OneI">2026-08-31</in-capmkt:TheExpectedDateOfCompletionOfSaleOrDisposal><in-capmkt:NatureOfConsiderationForSaleOrDisposal contextRef="OneD">Others</in-capmkt:NatureOfConsiderationForSaleOrDisposal><in-capmkt:DetailsOfConsiderationForSaleOrDisposal contextRef="OneI">Nil. 
Argoid Analytics Private Limited has been voluntarily liquidated under the Insolvency and Bankruptcy Code, 2016 pursuant to approval of the National Company Law Tribunal, Bengaluru Bench, which has been taken on record by the Registrar of Companies, effective August 31, 2026. Consequent to the above, the dissolution has been fully completed.</in-capmkt:DetailsOfConsiderationForSaleOrDisposal><in-capmkt:BriefDetailsOfBuyers contextRef="OneI">Not applicable</in-capmkt:BriefDetailsOfBuyers><in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed contextRef="OneD">true</in-capmkt:WhetherThePromoterOrPromoterGroupOrGroupCompaniesIncludingAssociateOrHoldingOrSubsidiaryOrDirectorOrKMPOrSMPAndItsRelativesHaveAnyInterestInTheEntityBeingSaleOrDisposed><in-capmkt:NatureOfInterestAndDetailsThereofForSaleOrDisposal contextRef="OneI">Argoid Analytics Private Limited is a wholly owned subsidiary of Amagi Media Labs Limited</in-capmkt:NatureOfInterestAndDetailsThereofForSaleOrDisposal><in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions contextRef="OneD">false</in-capmkt:WhetherSaleOrDisposalWouldFallWithinRelatedPartyTransactions><in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength contextRef="OneD">true</in-capmkt:WhetherSaleOrDisposalEventIsDoneAtArmsLength><in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement contextRef="OneD">false</in-capmkt:WhetherTheSaleOrLeaseOrDisposalOfTheUndertakingIsOutsideSchemeOfArrangement><in-capmkt:AnyOtherBriefSignificantInformationForSaleOrDisposal contextRef="OneI">The voluntary liquidation process of Argoid Analytics Private Limited was initiated on November 17, 2025, i.e., prior to the listing of Amagi Media Labs Limited. The details of such liquidation were adequately disclosed in the Prospectus dated January 19, 2026.</in-capmkt:AnyOtherBriefSignificantInformationForSaleOrDisposal></xbrli:xbrl>
