India, Jan. 20 -- Early investors of Amagi, which is set to list on the exchanges tomorrow, raked in big gains by selling shares as part of the offer-for-sale (OFS) component of the media SaaS company's IPO.

Premji Invest's PI Opportunities Fund I emerged as the biggest gainer among the selling shareholders. The fund offloaded 98.9 Lakh shares via the OFS, earning INR 357.1 Cr at the upper end of the price band of INR 343 to INR 361. This translated to a 16.8X return on its investment. Following the stake sale, the fund has fully exited the company.

Meanwhile, Premji's PI Opportunities Fund II sold 34.12 Lakh shares for INR 123.2 Cr, booking a 13.5X return. The fund still owns 3.13 Cr shares of the company, valued at INR 1,130.3 Cr at t...