Venture capital giants Accel and AVP offload over 1 crore shares in Amagi through block deals, signalling a significant shift amid the company’s recent bullish market performance and upcoming IPO plans.
Amagi, the Bengaluru-based media software company, saw a large shareholder reshuffle on Thursday as venture capital backers Accel and AVP sold more than 1 crore shares in block deals worth about ₹587.3 crore. According to NSE data cited by Inc42, the shares changed hands at ₹560 each, a discount to the previous close, with the sale amounting to roughly 4.85% of the company’s market capitalisation.
The sellers included AVP affiliate Trudy Holdings and AVP I Fund, alongside two Accel-linked vehicles, Accel Growth VI Holdings and Accel India VI. Mutual funds and insurers stepped in as buyers, with SBI Mutual Fund taking the biggest slice. HDFC Standard Life Insurance Company and ICICI Prudential Mutual Fund were also among the major purchasers, while Tata Mutual Fund, Edelweiss Mutual Fund, Baroda BNP Paribas Mutual Fund, Susquehanna Pacific and BofA Securities Europe SA picked up smaller parcels. Market reports said the transaction came just as the IPO lock-in period expired.
The sale followed a sharp run-up in Amagi’s share price after its January listing. Livemint reported that Accel had said it remained committed to the company for the long term, and that the firm’s reduced stake sale was not driven by a change in conviction. Accel first backed Amagi in 2021, when it led a $95 million financing round, according to the firm’s own announcement.
Amagi has built cloud-based tools that let broadcasters and streaming platforms launch, operate and monetise channels without physical broadcast infrastructure. Moneycontrol reported that the company received Securities and Exchange Board of India approval for an IPO after filing draft papers in July 2025, with the issue including a fresh share sale and an offer for sale by existing holders. The company’s client list includes major media names such as Discovery, Sony, A+E Networks and Vice.
Investor interest has been supported by Amagi’s recent financial performance. Inc42 reported that consolidated net profit jumped 8.6 times year on year to ₹33.9 crore in the June quarter, while operating revenue rose 32.4% to ₹436.9 crore. Its shares ended Thursday’s session almost 4% higher on the BSE, extending gains that have taken the stock well above its listing level.
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