ADIA-backed trust to sell 1.7% Lenskart stake in ₹2,047 crore block deal

Platinum Jasmine A 2018 Trust, backed by ADIA, is set to sell a 1.7% stake in Lenskart at ₹682.45 per share, a 3.5% discount to the prior close. The seller will face a 90-day lock-in on further sales.

— Source publishedFri, 18 Sept, 2026, 19:01 IST·First seen Fri, 18 Sept, 2026, 19:28 IST·Source NDTV Profit

What happened

ADIA-backed Platinum Jasmine A plans to sell a 1.7% Lenskart stake for about Rs 2,047 crore via block deal at a 3.5% discount. The eyewear retailer reported

Key facts

  • ADIA-backed Platinum Jasmine A 2018 Trust to sell 1.7% stake
  • Block deal value: approximately Rs 2,047.4 crore
  • Price: Rs 682.45 per share
  • Discount: 3.5% to previous close
  • Seller stake as of June 30: 9.77%
  • 90-day lock-in on further sales
  • Prior June 2026 sale: 2.3% stake, 4 crore shares, Rs 1,960 crore at Rs 490/share
  • Q1 FY2026-27 net profit: Rs 222 crore, up 270% from Rs 60 crore
  • Q1 revenue: Rs 2,714 crore, up 43% from Rs 1,894 crore
  • Q1 EBITDA: Rs 588 crore, up 76% from Rs 335 crore
  • EBITDA margin: 21.7% versus 17.7%
  • Share close: Rs 707.20, up 4.01%

Why this matters

The transaction establishes a large-scale market-clearing reference price for Lenskart shares, informing valuation expectations for future strategic investments or stake sales.

What to watch

  • Block-deal subscription level and final allocation quality.
  • Stock performance during the first five trading sessions after the sale.
  • Any additional promoter, trust, PE, or sovereign-backed investor stake-sale disclosures.
  • Quarterly revenue growth, EBITDA margin trajectory, and same-store sales trends that can offset valuation-overhang concerns.
  • 90-day lock-in expiry and subsequent changes in large-holder shareholding.
  • Broad market appetite for consumer, discretionary, and newly listed retail names.
  • Monitor block-deal disclosures for buyer concentration, final clearing price, and whether the full 1.7% stake is placed.
  • Track Lenskart's closing price versus the ₹682.45 per-share deal price for evidence of absorption or persistent supply pressure.
  • Watch shareholding filings for changes among other financial investors and any disclosed lock-in expiry schedules.
  • Assess whether management uses the higher public-market visibility to accelerate store expansion, omnichannel investment, or adjacent-category launches.
  • Monitor analyst commentary for valuation resets tied to the discounted transaction rather than operating-performance changes.