Venture capital firms Accel and AVP sold more than 1 crore shares of media SaaS startup Amagi in block deals worth ₹587.3 crore. The shares were sold at ₹560 each, a 3% discount to the stock’s closing price on Thursday, according to NSE data. The transactions took place this week, marking a significant secondary sale by early investors.
AVP’s affiliate Trudy Holdings sold 31.7 lakh shares, while AVP I Fund offloaded 18.6 lakh shares. Accel’s two entities, Accel Growth VI Holdings (Mauritius) and Accel India VI (Mauritius), sold 27.3 lakh shares each. As of June quarter-end, Accel held an 11.5% stake in Amagi on a fully diluted basis, while AVP held less than 1% via AVP I Fund and 3.3% through Trudy Holdings. Mutual funds and institutional investors such as SBI Mutual Fund, Tata Mutual Fund, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, and Baroda BNP Paribas Mutual Fund purchased the shares.
This block deal highlights the liquidity event for early investors in Amagi, a cloud-based media SaaS company founded in 2008 by Baskar Subramanian, Srinivasan KA, and Srividhya Srinivasan. The sale comes as Amagi continues to grow in the media technology sector, with institutional investors like Susquehanna International Group, BofA Securities, and HDFC Standard Life Insurance Company also acquiring shares. SBI Mutual Fund led the purchases with 50.9 lakh shares, reflecting strong institutional interest.
HDFC Standard Life Insurance Company bought 17.9 lakh shares, while ICICI Prudential Mutual Fund acquired 9.3 lakh shares. Tata Mutual Fund, Susquehanna Pacific, Edelweiss Mutual Fund, Baroda BNP Paribas Mutual Fund, and BofA Securities Europe SA each bought around 4.5 lakh shares. These transactions demonstrate active secondary market activity for Amagi’s stock following its listing, with the next quarterly shareholding update expected after the September quarter.
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