Daijiworld Media Network – Mumbai

Mumbai, Jun 11: Platinum Jasmine A 2018 Trust, an investment vehicle of the Abu Dhabi Investment Authority (ADIA), is set to divest up to a 2.3 per cent stake in eyewear retailer Lenskart Solutions through a block deal worth approximately Rs 1,944 crore.

According to market sources, the trust plans to sell up to 4 crore shares of Lenskart at a floor price of Rs 486 per share. At the indicated price, the transaction is expected to fetch around Rs 1,944 crore (approximately USD 204 million).

IIFL Capital Services is acting as the broker for the transaction, which is expected to be completed on Thursday.

The proposed stake sale comes as investors continue to monetise holdings in high-growth, technology-backed companies ahead of potential public market listings. Despite the partial exit, ADIA is expected to remain a significant shareholder in Lenskart following the transaction.

Founded by Peyush Bansal, Lenskart has emerged as one of India's leading eyewear brands, with a strong online presence and an expanding network of retail stores across India and overseas markets.

The company has attracted investments from several global investors over the years, including ADIA, SoftBank, Temasek, and ChrysCapital, and has been widely viewed as a strong candidate for an eventual initial public offering (IPO).

The block deal is likely to be closely watched by market participants as an indicator of investor appetite for shares of prominent new-age consumer and technology companies.