Adia Lenskart Stake Sale Cuts Holding to 7.76%
The Adia Lenskart stake sale
Abu Dhabi Investment Authority (Adia) has cut its holding in Lenskart by selling 35 million shares in a block deal worth INR23.9 billion ($250 million).
Adia affiliate Platinum Jasmine A 2018 Trust sold the shares at an average price of INR683, representing a 2 percent stake in Lenskart, according to Indian National Stock Exchange data. A block deal involves a large number of shares bought or sold between two parties outside the open market.
The buyer’s details were not disclosed. The transaction is Adia’s second sell-down in Lenskart this year, following a 40 million-share block deal worth INR2 billion in June.
What Lenskart does
Lenskart is an Indian eyewear retailer.
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Adia’s Lenskart shareholding
Adia’s stake has fallen to 7.76 percent, making it the second-largest public shareholder after SoftBank Vision Fund, which is backed by Saudi Arabia’s Public Investment Fund.
Adia invested $500 million in Lenskart for a 10 percent stake in March 2023.
In June, SoftBank Group divested a 3.25 percent stake in Lenskart Solutions for INR2.9 billion.
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