Now Reading: Accel, AVP sell Rs 587 crore stake in Amagi via block deals
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Accel, AVP sell Rs 587 crore stake in Amagi via block deals
Venture capital firms Accel and AVP have sold over one crore shares of media SaaS startup Amagi Media Labs in block deals worth cumulatively Rs 587.3 crore, according to exchange data. The…
Venture capital firms Accel and AVP have sold over one crore shares of media SaaS startup Amagi Media Labs in block deals worth cumulatively Rs 587.3 crore, according to exchange data. The shares were sold at Rs 560 apiece, a 3% discount to the previous day's closing price. The sellers included Accel Growth VI Holdings, Accel India VI, AVP I Fund, and Trudy Holdings. NDTV Profit reported the deal value at Rs 600 crore, with Kotak acting as broker and a 90-day lock-in on further sales.
The block deals came after the expiry of Amagi's IPO lock-in period. Inc42 reported that the shares were bought by SBI Mutual Fund, HDFC Standard Life Insurance Company, ICICI Prudential Mutual Fund, Tata Mutual Fund, and others. The stock has surged over 89% since its listing in January, helped by a sharp jump in Q1 profit to Rs 33.9 crore, up 8.6 times year-on-year, on revenue of Rs 436.9 crore.
Indian Opinion Analysis
Both sources cover the block deal as a routine secondary sale by early investors, with no critical or pro-government framing. NDTV Profit leads with the headline value of Rs 600 crore, while Inc42 gives a precise figure of Rs 587.3 crore and names the buyers. The coverage is uniform straight reporting. The real story is that institutional demand remains strong for Amagi despite the lock-in expiry, absorbing nearly 5% of the company's market cap in one day. Watch for any further dilution as the remaining promoter lock-in periods approach.
Coverage: 2 sources, 2 neutral
Sources (2): ndtvprofit.com (neutral report), inc42.com (neutral report)
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
