NewsOct 6, 2026, 08:16 UTC

ADIA affiliate sells $248M Lenskart stake to 19 investors

What's the deal? An Abu Dhabi Investment Authority (ADIA) affiliate has sold 35,000,000 Lenskart shares for US$324.6M (roughly $248 million) in a post-IPO secondary deal. The seller, Platinum Jasmine A 2018 Trust, offloaded a 2.3% stake in the eyewear retailer to 19 global and domestic investors.

Who bought in? Kotak Mahindra Asset Management was the largest buyer, taking 12.7 million shares — a 0.7% stake — for US$85M. A cluster of global funds, including Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Investments Mauritius, Franklin Templeton Mutual Fund, and Citigroup Global Markets Mauritius, together picked up 8.98 million shares for US$59.8M.

How it happened: The shares changed hands on September 21, 2026, via the screen-based trading platforms of the National Stock Exchange of India and BSE. Cyril Amarchand Mangaldas advised Morgan Stanley India as Indian legal counsel, while Linklaters Singapore acted for the placement agents.

Why it matters: At about $248 million, the block trade ranks in the 21st percentile among comparable deals by size — a mid-market transaction rather than a headline-grabber. The appetite from marquee funds signals continued institutional interest in Lenskart following its listing.

The signal: Sovereign backers trimming positions into a deep bench of asset managers is a familiar post-IPO pattern. It shows how newly public Indian consumer names are drawing a broad mix of domestic and global capital — even as early investors take some chips off the table.

Image credit: Topher