The secondary market momentum around Peyush Bansal-led eyewear unicorn Lenskart Solutions has intensified. Platinum Jasmine A 2018 Trust, an investment vehicle backed entirely by the Abu Dhabi Investment Authority (ADIA), has successfully offloaded a 2.3% equity stake in Lenskart via a massive block deal valued at ₹1,960 crore.

The transaction was executed on the open market, drawing heavy demand from a marquee roster of global investment banks, domestic mutual funds, and top-tier insurance firms. This partial exit comes less than a week after SoftBank’s affiliate, SVF II Lightbulb (Cayman), executed a similar block deal worth ₹2,873 crore on the counter.

The Block Deal Metrics: Deep Dive into the Pricing

The ADIA-backed trust liquidated a total of 4 crore (40 million) shares at an average transaction price of ₹490 per share. This cleared slightly above the initial floor price of ₹486, matching a modest 2% discount relative to its previous close of ₹500.15.

Because this transaction was purely a secondary market share rebalancing between existing public shareholders, the proceeds go entirely to ADIA. Lenskart will receive no fresh capital injection into its operational books from this deal. Following the transaction, ADIA has committed to a standard 90-day lock-up period on its remaining 9.78% holding.

Who Bought the ₹1,960 Crore Float?

The block deal witnessed an oversubscribed institutional bookbuild managed by sole placement agent IIFL Capital Services, split evenly between international capital and domestic heavyweights:

• Global Investment Giants: Wall Street powerhouses Goldman Sachs and Morgan Stanley led the foreign portfolio investor (FPI) allocations, alongside Societe Generale, Ghisallo Capital, and Citigroup Global Markets.
• Domestic Mutual Funds: Kotak Mahindra Mutual Fund emerged as the largest overall buyer, vacuuming up over 1.2 crore shares. Other notable asset managers included Canara Robeco MF (32.2 lakh shares), Franklin Templeton MF, and Mirae Asset MF.
• Insurers & Pension Capital: Long-only domestic institutions took massive bites, anchored by ICICI Prudential Life Insurance, HDFC Life, Kotak Mahindra Life, and the National Pension System (NPS) Trust.

Bullish Growth Engine Sustains Investor Appetite

The aggressive buying appetite from institutional desks underscores strong market confidence in Lenskart’s core financials. The stock closed up 0.37% at ₹502 following the block cross, well clear of its historical markers.

According to Lenskart’s recently disclosed Q4 FY26 earnings results, the company’s consolidated operational revenue grew by a staggering 45.6% year-on-year to ₹2,516 crore for the March quarter, up from ₹1,727 crore in the prior year period. For the full fiscal year ended March 31, 2026, the omnichannel giant reported total revenues of ₹9,002 crore with a robust adjusted Profit After Tax (PAT) of ₹530 crore.

Brokerage Outlook: Top institutional brokerages like Elara Capital have initiated coverage on Lenskart with a high-conviction “Buy” rating and a target price of ₹615 per share. Analysts point out that Lenskart’s integrated backward-manufacturing setup and booming international operations—bolstered by its acquisitions of Owndays and Meller—now generate roughly 42% of its total revenue mix, shielding it from localized retail headwinds.