Accel, AVP Sell Over 1 Crore Amagi Shares In ₹587 Cr Block Deals

Venture capital firms Accel and AVP have divested over 10 million shares in the listed media SaaS startup Amagi through block deals, totaling ₹587.3 crore (approximately $70 million USD). The transactions occurred at ₹560 per share, representing a discount of about 3% from the previous day's closing price.

Accel-linked entities, Accel Growth VI Holdings and Accel India VI, each sold approximately 2.7 million shares. AVP affiliates Trudy Holdings and AVP I Fund sold a combined total exceeding 5 million shares. Prior to these sales, Accel held an 11.5% stake in Amagi.

Institutional investors were the primary buyers, with SBI Mutual Fund acquiring the largest portion of shares. Other notable buyers included Tata Mutual Fund, ICICI Prudential Mutual Fund, Susquehanna International Group, and HDFC Standard Life Insurance Company.

Amagi, founded in 2008, provides cloud-based software solutions enabling content providers to launch and monetize streaming channels. The company's stock has seen significant gains since its listing earlier this year, supported by strong revenue growth and improved profitability.