Now Reading: Abu Dhabi fund sells 2% Lenskart stake for Rs 2,390 crore
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Abu Dhabi fund sells 2% Lenskart stake for Rs 2,390 crore
Abu Dhabi Investment Authority sold 3.5 crore shares of Lenskart Solutions, a 2.01% stake, for Rs 2,390.57 crore through an open market transaction on Monday. The shares were sold at an average…
Abu Dhabi Investment Authority sold 3.5 crore shares of Lenskart Solutions, a 2.01% stake, for Rs 2,390.57 crore through an open market transaction on Monday. The shares were sold at an average price of Rs 683.02 apiece, reducing ADIA's holding to 7.76% from 9.77%.
The sale is ADIA's second stake reduction in recent months. In June it sold 4 crore shares at Rs 490 each, about 40% lower than Monday's price. Lenskart's shares have rallied 51% year to date and touched an all-time high of Rs 725 on September 18.
The stock closed 3.3% lower at Rs 683.85 on the NSE after the deal. Lenskart's Q1 FY27 net profit jumped 273% year on year to Rs 228.4 crore, while operating revenue grew 43% to Rs 2,714.2 crore, according to regulatory filings.
Indian Opinion Analysis
Both thehindubusinessline.com and inc42.com reported the share sale by ADIA as a straight market transaction, but inc42.com placed the deal in a richer context. It noted the share price was 40% above ADIA's June sale price, Lenskart's 51% year-to-date rally, and the company's Q1 profit jump. BusinessLine confined itself to the deal details and Lenskart's Q4 profit decline. Neither source questioned why ADIA sold at all. The contrasting financial figures point to a company whose turnaround is still being tested: Q4 profit fell, Q1 profit soared. The next public quarterly result will resolve that gap.
Coverage: 2 sources, 2 neutral
Sources (2): thehindubusinessline.com (neutral report), inc42.com (neutral report)
This brief was synthesised by AI from the 2 sources linked above, so one read covers every framing they carry.
