ADIA-Backed Investor Sells Rs 1,960 Crore Stake In Eyewear Company; Kotak MF Emerges Largest Buyer

Indian equity benchmarks ended higher on Friday, with the benchmark Nifty 50 index gaining 466.75 points, or 2.02 per cent, to 23,628.35. Despite the strong market rally, Lenskart Solutions share price closed at Rs 494.10, down 1.62 per cent during the session.

ADIA-Backed Investor Sells 2.3 per cent Stake

Abu Dhabi Investment Authority (ADIA)-owned Platinum Jasmine A 2018 Trust pared its stake in Lenskart through a large block deal on June 11, 2026.

According to exchange data, the investor sold 4 crore equity shares, representing 2.3 per cent of the company's equity, at a price of Rs 490 per share.

Based on the transaction price, the deal value stood at approximately Rs 1,960 crore. Prior to the transaction, Platinum Jasmine A 2018 Trust held 12.08 per cent stake in Lenskart as of March 2026, making it the company's second-largest public shareholder after SoftBank.

Kotak Mutual Fund Largest Buyer

The stake sale attracted strong participation from both domestic and foreign institutional investors, with a total of 19 investors acquiring shares in the transaction.

Among them, Kotak Mahindra Mutual Fund emerged as the largest buyer, purchasing 1.21 crore shares, equivalent to 0.69 per cent stake, for approximately Rs 591 crore.

Strong Institutional Participation In The Deal

The block deal witnessed strong participation from domestic institutional investors. Apart from Kotak Mahindra Mutual Fund, which emerged as the largest buyer, several leading domestic institutions acquired shares, including Canara Robeco Mutual Fund, National Pension System (NPS) Trust, Franklin Templeton Mutual Fund, Mirae Asset Mutual Fund, ICICI Prudential Life Insurance, ICICI Prudential Mutual Fund, HDFC Life Insurance, SBI Mutual Fund, and Aditya Birla Sun Life Mutual Fund. The broad participation from mutual funds, insurance companies and pension funds highlights continued institutional interest in the company.

Global Investors Also Pick Up Stake

The transaction also attracted several foreign investors, reflecting sustained global confidence in the eyewear retailer's growth prospects. Key overseas participants included Integrated Core Strategies (Asia), Morgan Stanley Asia Singapore, Goldman Sachs Investments Mauritius, Societe Generale, Viridian Asia Opportunities Master Fund, Ghisallo Master Fund LP, and Citigroup Global Markets Mauritius. The combined participation of domestic and international investors enabled the successful absorption of the entire 4 crore shares, representing 2.3 per cent equity stake, offered through the block deal.
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Recent Corporate Development

Recently, Lenskart completed the acquisition of the remaining 7.65 per cent stake in Quantduo Technologies Private Limited for an aggregate consideration of Rs 3.68 crore, making the analytics company a wholly owned subsidiary.

The acquisition is aimed at strengthening Lenskart's analytics capabilities and consolidating ownership in a business aligned with its core operations.

About Lenskart

Lenskart Solutions Limited is one of India's largest omnichannel eyewear retailers, offering prescription eyewear, sunglasses, contact lenses and vision-care products.

Founded by Peyush Bansal, the company operates through a combination of physical stores and digital platforms, serving customers across India and international markets. Over the years, Lenskart has expanded its technology, manufacturing and retail capabilities, making it one of the leading consumer brands in the eyewear segment.

Disclaimer: The article is for informational purposes only and not investment advice.