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Accel Sells Amagi Stake for Rs 587 Crore

By Business DeskAccel Sells Amagi Stake for Rs 587 Crore

Accel and other investors divested a 4.85% stake in Amagi Media Labs for Rs 587.33 crore, attracting major institutional and foreign investors.

Global venture capital firm Accel, alongside Trudy Holdings and AVP I Fund, divested a 4.85% stake in SaaS company Amagi Media Labs on Friday. This significant open market transaction fetched Rs 587.33 crore.

The sale involved 1,04,88,021 equity shares in Amagi Media Labs, executed through open market transactions. Each share was transacted at an average price of Rs 560.

Key Investors in the Block Deal

  • A consortium of domestic mutual funds acquired shares, including SBI Mutual Fund, Tata MF, ICICI Prudential MF, Edelweiss MF, DT Fund, and Baroda BNP Paribas MF.
  • Insurance company HDFC Standard Life Insurance Company also participated in the acquisition.
  • Foreign investors like Susquehanna International Group, BofA Securities, Gresham Partners, and University of Notre Dame DU LAC were among the purchasers.

Following the completion of this block deal, Amagi Media Labs’ shares saw a notable surge on the National Stock Exchange (NSE). The company’s stock increased by 4.57%, closing at Rs 602.80 apiece.

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