Abu Dhabi Investment Authority (ADIA) has reduced its stake in eyewear retailer Lenskart through a block deal worth ₹1,960 crore, attracting strong interest from both global and domestic institutional investors.
ADIA-backed Platinum Jasmine A 2018 Trust sold 4 crore shares, representing a 2.3% stake in Lenskart, at ₹490 per share. The transaction was executed through open market deals and was subscribed by 19 investors, reflecting continued confidence in the company’s growth prospects.
Among the major buyers were global financial institutions such as Morgan Stanley, Goldman Sachs, Societe Generale and Citigroup. Domestic investors including SBI Mutual Fund, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, National Pension System Trust and several insurance companies also participated in the transaction.
Kotak Mahindra Asset Management emerged as the largest buyer in the deal, purchasing around 1.27 crore shares worth approximately ₹626 crore. Institutional demand remained strong despite the large size of the transaction.
Following the stake sale, ADIA’s investment vehicle continues to hold a significant stake in Lenskart. The sale is seen as a partial profit-booking exercise rather than a complete exit from the company.
The transaction comes just days after technology investor SoftBank sold a portion of its holding in Lenskart through another large block deal. Market observers say these stake sales are linked to portfolio rebalancing by early investors following Lenskart’s stock market listing and the expiry of lock-in restrictions for some shareholders.
Investor participation in the latest deal highlights strong confidence in Lenskart’s business model and future growth potential. The company has expanded rapidly across India and overseas through a combination of physical stores and online sales, making it one of the country’s leading eyewear brands.
Shares of Lenskart remained largely stable after the transaction, indicating that the market comfortably absorbed the large sale. Analysts said the successful deal demonstrates sustained institutional interest in consumer-focused companies with strong growth prospects and scalable business models.
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