ADIA Sells Lenskart Shares Worth €2.39 Billion

Abu Dhabi Investment Authority (ADIA), an early investor in the Indian eyewear chain Lenskart, sold a significant stake in the company on Tuesday. Through its holding entity Platinum Jasmine A 2018 Trust, ADIA offloaded 3.5 million shares valued at a total of €2.39 billion (approximately ₹2,390.6 crore). The transaction price per share was €683.02.

This marks the second instance in recent months where ADIA has reduced its holdings in Lenskart. In June, the investor sold 4 million shares in a deal worth €1.96 billion. At that time, the per-share price was around €490, approximately 40% lower than the price achieved in Tuesday's transaction.

Lenskart's shares have experienced substantial growth since the beginning of the year, providing early investors with opportunities to realize gains. The stock has risen by 51.3% year-to-date. Several major investors, including SoftBank, Temasek, and Alpha Wave, have reduced their stakes in the company in recent months.

The strong stock performance follows robust Q1 FY27 financial results. Lenskart's net profit surged by 273% year-on-year to €228.4 million, while its operating revenue grew by 43% to €2.71 billion. Analysts have issued positive ratings, with several banks raising their target prices.

Following Tuesday's sale, ADIA's stake in Lenskart has decreased significantly. At the end of June, ADIA's trust held 16.98 million shares, representing 9.77% of the company's total equity. Tuesday's sale accounts for approximately 2% of the company's total share capital.