Lenskart Solutions
ADIA sells 2.01% stake in Lenskart Solutions for ₹2,390.57 crore
Abu Dhabi Investment Authority (ADIA) sold a 2.01 per cent stake in Lenskart Solutions for ₹2,390.57 crore in an open market transaction on Monday. The sale was executed through its affiliate Platinum Jasmine A 2018 Trust, which offloaded 3.5 crore shares at an average price of ₹683.02 per share. This reduced ADIA's holding in the Gurugram-based eyewear retailer from 9.77 per cent to 7.76 per cent.
After the transaction, ADIA remains the second-largest public shareholder in Lenskart Solutions, behind SoftBank. The buyers of the shares were not disclosed in the exchange data. Lenskart's shares closed 3.10 per cent lower at ₹685.30 on the National Stock Exchange (NSE) following the announcement.
This stake sale follows SoftBank's divestment of a 3.25 per cent stake in Lenskart Solutions for ₹2,873 crore in June earlier this year. In May, Lenskart reported a 7.5 per cent year-on-year decline in consolidated profit after tax to ₹203.6 crore for the March quarter, driven by higher expenses on components and inventories. However, the company's revenue from operations grew 45.62 per cent year-on-year to approximately ₹2,516 crore in the same quarter, up from ₹1,728 crore in the year-ago period.
ADIA's move reflects ongoing portfolio adjustments by institutional investors in Lenskart, as the company navigates rising costs despite strong top-line growth. The transaction does not alter Lenskart's fundamental operations but signals continued profit-taking by early backers. Market participants will monitor whether further stake sales occur as the company prepares for its next growth phase.
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