- Three entities including Accel sold 4.85% stake in Amagi Media Labs for Rs 587 crore
- 1,04,88,021 shares were offloaded at an average price of Rs 560 per share on NSE
- AVP I Fund, Trudy Holdings, and Accel affiliates participated in the stake sale
Three entities, including global venture capital firm Accel, on Friday divested nearly a 5 per cent stake in SaaS company Amagi Media Labs for Rs 587 crore through open market transactions.
A total of 1,04,88,021 equity shares, representing a 4.85 per cent stake in Bengaluru-based Amagi Media Labs, were offloaded by Trudy Holdings, AVP I Fund and Accel through its affiliates, according to block deal data on the NSE.
The shares were disposed of at an average price of Rs 560 apiece, taking the combined transaction value to Rs 587.33 crore.
AVP I Fund is an investment vehicle linked to AVP, formerly AXA Venture Partners/ Atlantic Vantage Point, which is an independent global technology investment platform.
Meanwhile, a clutch of domestic mutual funds, an insurance company and foreign investors participated in the transaction.
SBI Mutual Fund (MF), Tata MF, ICICI Prudential MF, Edelweiss MF, DT Fund, and Baroda BNP Paribas MF purchased an equal number of shares at the same price, as per the data on the National Stock Exchange (NSE).
HDFC Standard Life Insurance Company, along with Susquehanna International Group, BofA Securities, Gresham Partners, and University of Notre Dame DU LAC, were among the other entities that acquired shares in the company.
Shares of Amagi Media Labs jumped 4.57 per cent to close at Rs 602.80 apiece on the NSE.
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(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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