Major Secondary Market Activity for Lenskart

Lenskart Solutions has witnessed significant secondary market activity as Platinum Jasmine A 2018 Trust, an investment vehicle backed by the Abu Dhabi Investment Authority (ADIA), offloaded a 2.3% stake in the eyewear giant. The deal was executed through block trades totaling Rs 1,960 crore (approximately $206 million), with 4 crore shares changing hands at Rs 490 apiece.

The Deal Mechanics

  • Total Value: Rs 1,960 crore (~$206 million).
  • Institutional Participation: The sale saw strong demand from diverse institutional entities, including the National Pension System (NPS) Trust, various mutual funds (SBI, HDFC, ICICI Prudential), and global players like Goldman Sachs and Morgan Stanley.
  • Leading Buyer: Kotak Mahindra Asset Management led the acquisition, deploying Rs 691 crore.

Market Context and Traction

This transaction follows closely behind a 3.25% stake sale by SoftBank, Lenskart’s largest shareholder. Despite these partial exits, the company continues to demonstrate robust financial health. In Q4 FY26, Lenskart reported a 46% year-on-year revenue increase, reaching Rs 2,516 crore, alongside a healthy profit of Rs 204 crore. The company is currently valued at approximately $9.2 billion.

Takeaways for Founders

For growth-stage founders, this event signals a maturing Indian exit ecosystem. The ability to absorb large secondary sell-offs while maintaining a $9B+ valuation demonstrates that the market is ready to provide liquidity to early-stage investors while shifting cap tables toward long-term domestic and global institutional holders.