Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) will sell a 2.3% stake in eyewear retailer Lenskart through a block deal on Thursday, valued at around Rs 1,944 crore, according to the transaction’s term sheet seen by ET. The stake sale comes just a week after Japanese investor SoftBank offloaded shares worth Rs 2,873 crore in the Gurugram-based company.
ADIA had invested a total of Rs 4,113 crore in Lenskart in March 2023 through a mix of primary and secondary transactions that valued the company at around Rs 37,000 crore. It will now sell 40 million shares at a floor price of Rs 486 apiece, representing a 2.9% discount to Wednesday's closing price of Rs 500.50 on the BSE. At that price, Lenskart's market capitalisation stood at around Rs 87,000 crore.
