Key facts
- Abu Dhabi Investment Authority (ADIA) plans to sell up to 2.3% of its stake in Lenskart.
- The stake sale is valued at approximately Rs 1,944 crore ($204 million).
- The transaction is structured as a block deal with a floor price of Rs 486 per share.
- This follows SoftBank's recent sale of Lenskart shares worth Rs 2,873 crore.
- Lenskart reported a 46% year-over-year revenue increase to Rs 2,516 crore for the January-March quarter.
- Despite stake sales by early investors, analysts maintain a positive outlook on Lenskart's growth.
Abu Dhabi Investment Authority (ADIA) is set to sell up to 2.3% of its stake in eyewear retailer Lenskart for approximately Rs 1,944 crore ($204 million) through a block deal. The transaction, managed by IIFL Capital Services, has a floor price of Rs 486 per share, a discount to Lenskart's closing price of Rs 500.15 on Wednesday.
This divestment follows a significant stake sale by SoftBank affiliate SVF II Lightbulb (Cayman), which raised nearly Rs 2,873 crore by selling 5.65 crore shares. Despite these secondary sales by early investors, analysts maintain a positive outlook on Lenskart's growth prospects. Elara Capital, for instance, initiated coverage with a 'Buy' rating and a target price of Rs 615, citing the company's integrated business model and strong store economics.
ADIA initially invested Rs 4,113 crore in Lenskart in March 2023. Even after the proposed sale, ADIA is expected to retain a substantial shareholding worth around Rs 8,500 crore. Lenskart, which began as an online-only platform, has expanded into a full-stack vision-care business with a significant offline presence and international operations contributing approximately 42% of its revenue.
Lenskart reported a nearly 46% year-over-year surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26. However, its net profit declined 9% year-over-year to Rs 200 crore during the same period. For the full financial year ended March 31, 2026, the company's revenue rose 32% year-over-year to Rs 9,002 crore, with adjusted profit after tax surging 148% to Rs 530 crore.