An investment vehicle of Abu Dhabi Investment Authority (ADIA) has executed a significant stake reduction in eyewear retailer Lenskart through a block deal worth ₹1,960 crore. According to Business Standard, Platinum Jasmine A 2018 Trust, an ADIA-controlled investment vehicle, sold 4 crore shares representing around 2.3% of Lenskart's outstanding equity at ₹490 per share. The transaction was executed on June 11 via open market transactions, with the seller subject to a 90-day lock-up period on its remaining shareholding. As per the latest block deals data, Platinum Jasmine A 2018 held 12.08% stake in Lenskart as of March 2026, making it the second largest public shareholder after SoftBank. Following the latest transaction, ADIA's holding in Lenskart dropped to 9.78% from 12.08%. The shares were sold at a discount of around 2% to Lenskart's previous closing price of ₹500.15.
The block deal attracted strong interest from global financial institutions, with 19 global and domestic investors participating in the transaction. Kotak Mahindra Asset Management emerged as the largest buyer, acquiring 1.27 crore shares (0.7% stake) for ₹626 crore. Global investors including Morgan Stanley, Goldman Sachs Investments Mauritius, Viridian Asia Opportunities, Integrated Core Strategies (Asia), Ghisallo Master Fund, Franklin Templeton Mutual Fund, and Citigroup Global Markets Mauritius collectively acquired 89.79 crore shares (0.51% stake) for ₹440 crore. Other foreign investors who participated include Viridian Asia Opportunities, Integrated Core Strategies (Asia), and Ghisallo Master Fund. Domestic institutional investors dominated participation, with Canara Robeco Mutual Fund acquiring 32.2 lakh shares, Franklin Templeton Mutual Fund purchasing 22.4 lakh shares, and Mirae Asset Mutual Fund acquiring 22 lakh shares. Insurance companies including ICICI Prudential Life Insurance, HDFC Life, Kotak Mahindra Life Insurance, and National Pension System (NPS) Trust also participated in the transaction.
Following the completion of the block deal, Lenskart Solutions shares rose 0.37% to ₹502 on the National Stock Exchange, as reported by Business Standard. The positive market response reflects investor confidence in the transaction's strategic significance. The shares were picked up at an average price of ₹490 per share, with the investors collectively purchasing 4 crore shares amounting to a 2.3% stake in the eyewear retailer. The deal comes less than a week after another major shareholder exit, when SoftBank affiliate SVF II Lightbulb (Cayman) sold 5.65 crore shares at ₹508.55 apiece through a block deal worth around ₹2,873 crore. Despite the sizeable transaction activity, Lenskart shares had traded largely unchanged in previous sessions, opening at ₹496.60 against the previous close of ₹500.15.
For the quarter ended March 2026, Lenskart reported robust financial performance with revenue rising 45.6% to ₹2,516 crore from ₹1,728 crore in the corresponding quarter last year. EBITDA surged 84% to ₹538.4 crore, while EBITDA margin expanded to 21.4% from 16.9% in the corresponding quarter last year. However, the company reported a 7.5% year-on-year decline in consolidated profit after tax (PAT) to ₹203.6 crore in the March quarter due to a rise in expenses on components and inventories, compared to ₹220.1 crore in the same period a year ago. Despite recent stake sales by early investors, brokerages remain constructive on the company's long-term growth prospects, with Lenskart stock having gained around 24.5% from its IPO issue price of ₹402.
As of March 2026, the promoter and promoter group of Lenskart hold a 17.55% stake in the company, while public shareholders own 82.03%. According to CNBC TV18, among public shareholders, foreign companies are the largest shareholder category with a combined 56.49% stake. SoftBank-backed SVF II Lightbulb (Cayman) Ltd. is the single largest public shareholder with a 13.13% holding, followed by Platinum Jasmine A 2018 Trust with 9.78%. Domestic institutional investors hold 15.48% of the company, with SBI Equity Hybrid Fund holding a 2.41% stake. Foreign portfolio investors collectively own 4.26% of Lenskart, while the company has over 1.11 lakh public shareholders. Insurance firms including ICICI Prudential Life Insurance Company, Kotak Mahindra Life Insurance, HDFC Life Insurance, and National Pension System (NPS) Trust also participated in the transaction.
