Accel, AVP Sell Over 1 Cr Amagi Shares In ₹587 Cr Block Deals
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Venture capital (VC) firms Accel and AVP (formerly AXA Venture Partners) sold over 1 Cr shares of listed media SaaS startup Amagi in block deals worth cumulatively ₹587.3 Cr.
As per NSE data, the shares changed hands at ₹560 apiece, a 3% discount to the stock’s closing price on Thursday.
AVP affiliate Trudy Holdings sold 31.7 Lakh shares, while AVP I Fund dumped 18.6 Lakh shares. Meanwhile, two Accel-linked entities, Accel Growth VI Holdings (Mauritius) and Accel India VI (Mauritius), also offloaded 27.3 Lakh shares each.
As of the end of the June quarter, Accel held 11.5% stake in Amagi on a fully diluted basis. Meanwhile, AVP held less than 1% stake through the AVP I Fund entity and 3.3% via Trudy Holdings.
SBI Mutual Fund, Tata Mutual Fund, ICICI Prudential Mutual Fund, Edelweiss Mutual Fund, and Baroda BNP Paribas Mutual Fund stepped in to buy the offloaded shares. Susquehanna International Group, BofA Securities, and HDFC Standard Life Insurance Company also lapped up the shares that flooded the market.
While SBI Mutual Fund bought the highest number of shares at 50.9 Lakh, HDFC Standard Life Insurance Company bought 17.9 Lakh shares and ICICI Prudential Mutual Fund purchased 9.3 Lakh shares.
Tata Mutual Fund, Susquehanna Pacific, Edelweiss Mutual Fund, Baroda BNP Paribas Mutual Fund and BofA Securities Europe SA all bought around 4.5 Lakh shares each.
Founded in 2008 by Baskar Subramanian, Srinivasan KA and Srividhya Srinivasan, Amagi offers cloud-based software solutions that allow content providers to launch, operate, and monetise internet-based streaming channels without any physical broadcast infrastructure.
Shares of the company listed on the bourses in January this year. The stock has since been on a roll and has surged more than 89% compared to its muted listing price. This has come on the back of the company’s resurgent bottom line and growing revenues.
Amagi’s consolidated net profit jumped 8.6X YoY to ₹33.9 Cr in Q1 FY27, while operating revenue zoomed 32.4% YoY to ₹436.9 Cr in the quarter under review.
Shares of Amagi closed today’s trading session 3.99% higher at ₹599.85 on the BSE.
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