Investors are booking profits after the expiration of the IPO lock-in period for Lenskart shares. Abu Dhabi Investment Authority (ADIA) has now sold the eyewear giant’s shares worth ₹1,960 Cr, marking the third major stake sale by an institutional backer this week.
ADIA Gets The Golden Parachute: The sovereign wealth fund, via its Platinum Jasmine A 2018 Trust, sold 4 Cr shares at ₹490 apiece. Notably, ADIA had first invested in Lenskart in 2023, buying stakes worth $500 Mn via primary and secondary transactions.
Buyers Swoop In: While heavyweights like Kotak Mahindra MF, Canara Robeco MF and NPS Trust anchored domestic buying, Wall Street titans such as Goldman Sachs and Morgan Stanley absorbed the foreign tranches, signalling deep institutional confidence.
Post Lock-In Cascade: The latest ADIA block deal is part of a broader profit-booking wave sweeping through Lenskart’s cap table after the company’s six-month post-IPO lock-in expired on May 8. Early backers are moving to materialise their gains, including SoftBank’s ₹2,873.3 Cr divestment on June 3 and JP Morgan’s subsequent ₹96.42 Cr sale on June 5.
This liquidity event mirrors similar actions by Alpha Wave Ventures and TR Capital, who collectively sold stakes worth ₹3,861 Cr on May 9, right after the regulatory gate opened.
Robust Foundations: Despite the churn in shareholding, Lenskart’s stock has held up well. Since its November 2025 debut, the shares have gained nearly 25% over the IPO issue price of ₹402, supporting an m-cap of about ₹87,345 Cr. This market stability is anchored in strong financials. Revenue rose 46% YoY to ₹2,515.7 Cr in Q4 FY26, despite a minor 7.5% YoY profit compression to ₹203.6 Cr.
As early backers dump stakes to secure their returns, will the newly onboarded mutual funds stabilise the eyewear giant’s valuation? While that is a story for another day, here is all about ADIA trimming its shareholding in Lenskart…
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Source: Inc42 - Startups
