Accel and AVP sell Amagi shares in Rs 587.3 Cr block deals

Accel and AVP sold over 1 crore Amagi shares in block deals worth Rs 587.3 Cr. The price was Rs 560 per share, a 3% discount to the closing price.

The sellers were Accel Growth VI Holdings (Mauritius) with 27.3 lakh shares, Accel India VI (Mauritius) with 27.3 lakh, AVP I Fund with 18.6 lakh and Trudy Holdings with 31.7 lakh. Those four add to 104.9 lakh shares. At Rs 560 each that is about Rs 587.4 Cr against the reported Rs 587.3 Cr, which is rounding.

The buyers were mostly domestic institutions. SBI Mutual Fund took the largest block at 50.9 lakh shares. HDFC Standard Life Insurance took 17.9 lakh and ICICI Prudential Mutual Fund 9.3 lakh. Tata, Edelweiss and Baroda BNP Paribas mutual funds also bought, along with Susquehanna and BofA Securities.

Amagi is up more than 89% since its January listing. As we covered earlier this month, Q1 FY27 net profit rose 8.6X year on year to Rs 33.9 Cr, with operating revenue up 32.4%.

What an orderly exit looks like

From a distance a big early investor sale reads as bad news, so it is worth naming what separates this from a distressed one. In a distressed exit the discount is wide, the seller is pushing stock into a falling price, and the buyers are opportunistic desks taking the other side cheap. Here the discount was 3%, the stock is up 89% since listing, profit is compounding, and the buyers were long only domestic funds and insurers taking size. Early investors sold into demand, not into weakness.

If you are a founder watching listed comps ahead of your own raise, read the buyer list on block deals rather than the deal value. Who bought, and at what discount, tells you what the market thinks of the next four quarters.