Three organizations, including the global venture capital firm Accel, divested nearly a five percent stake in the SaaS company Amagi Media Labs on Friday through open market transactions. The total value of this transaction amounted to 587.33 crore rupees.
According to block trade data on the NSE, Trudy Holdings, AVP I Fund, and Accel, through their affiliated structures, disposed of 104,88,021 equity packages, equivalent to 4.85 percent of the stake in Bengaluru-based Amagi Media Labs.
These shares were sold at an average price of 560 rupees per share. Several internal mutual funds, an insurance company, and foreign investors also participated in the deal.
Specifically, SBI Mutual Fund (MF), Tata MF, ICICI Prudential MF, Edelweiss MF, DT Fund, and Baroda BNP Paribas MF acquired an equal number of shares at the same price, according to National Stock Exchange (NSE) data.
Among other buyers of the company's shares were HDFC Standard Life Insurance Company, Susquehanna International Group, BofA Securities, Gresham Partners, and the University of Notre Dame DU LAC.
Following the sale of Amagi Media Labs shares, the stock rose by 4.57 percent, closing on the NSE at 602.80 rupees per share.