Platinum Jasmine A 2018 Trust Sells Stake in Lenskart Solutions
Platinum Jasmine A 2018 Trust, which is an investment vehicle supported by the Abu Dhabi Investment Authority (ADIA), has disposed of a 2.3% shareholding in eyewear retailer Lenskart Solutions. This transaction involved a series of block deals amounting to Rs 1,960 crore. According to data from exchanges, the ADIA-backed Platinum Jasmine A 2018 Trust sold 4 crore shares at a price of Rs 490 each, totalling Rs 1,960 crore or approximately $206 million. This sale follows SoftBank’s recent partial exit from Lenskart, where the major shareholder divested a 3.25% stake for Rs 2,873 crore.
The stake in Lenskart attracted significant participation from a blend of local and international institutional investors. Notable buyers included the National Pension System (NPS) Trust, Canara Robeco Mutual Fund, Franklin Templeton Mutual Fund, ICICI Prudential Life Insurance, SBI Mutual Fund, Kotak Mahindra Life Insurance, HDFC Life Insurance, Aditya Birla Sun Life Mutual Fund, Mirae Asset Mutual Fund, Goldman Sachs Investments Mauritius, Morgan Stanley Asia Singapore, Societe Generale, and Citigroup Global Markets Mauritius. Additionally, Ghisallo Master Fund and Viridian Asia Opportunities Master Fund took part in the transaction.
Kotak Mahindra Asset Management emerged as the predominant buyer in this deal, purchasing roughly 1.41 crore shares through three funds, contributing Rs 691 crore to the investment. As of March 2026, Platinum Jasmine A 2018 Trust maintained a 12.08% stake in Lenskart, positioning it as the second-largest public shareholder in the company, following SoftBank, which holds a 13.13% stake.
In its latest quarterly results (Q4 FY26), the Gurugram-based company reported a remarkable 46% year-on-year increase in revenue, reaching Rs 2,516 crore, alongside a profit of Rs 204 crore. By the close of trading on Thursday, Lenskart shares were priced at Rs 502, bringing its total market capitalization to Rs 87,284 crore (approximately $9.2 billion).