ADIA trust pares Lenskart stake below 10% after SoftBank exit
A sovereign wealth fund sold ₹2,008 crore worth of shares, crossing a key regulatory threshold, just eight days after SoftBank's ₹2,859 crore exit.
— 3 earlier stories on Lenskart Solutions Ltd. →What's new
- Platinum Jasmine Trust (ADIA) sold 4 crore shares (2.30% equity) on June 11, cutting stake from 12.08% to 9.78%.
- The sale pushes the investor below the 10% threshold, triggering governance and disclosure changes.
- Follows SoftBank's ₹2,859 cr stake sale on June 6, raising questions about institutional conviction.
Why this matters
Two major institutional investors trimming within eight days signals profit-taking or reduced conviction. Lenskart's high P/E of 174 and trailing PAT decline of 7% make the stock sensitive to large holder moves.
What we're watching
- Whether other large investors (e.g., Temasek) follow with further stake sales.
- Any management commentary or buyback announcement to shore up sentiment.
- Impact on Lenskart's valuation if selling pressure persists.
The full read
For the second time in eight days, a big Lenskart investor has moved to the exit. Platinum Jasmine A 2018 Trust, tied to ADIA, sold 4 crore shares (2.30% of equity) on June 11, reducing its stake from 12.08% to 9.78% and crossing below the 10% disclosure threshold. The sale is worth roughly ₹2,008 crore. It follows SoftBank's ₹2,859 crore stake trim on June 6, which also dipped below 10%. Lenskart's trailing P/E of 174x and a 7% PAT decline give pause even as revenue rose 32% to ₹90 billion in FY26. The selling pressure from long-term backers signals that even believers are booking profits. What changes from here is whether other holders follow.
Questions answered
- Who sold Lenskart shares and how much?
- Platinum Jasmine A 2018 Trust, an Abu Dhabi Investment Authority-linked entity, sold 4 crore shares (2.30% stake) worth approximately ₹2,008 crore on June 11, 2026.
- What does crossing below the 10% threshold mean?
- Below 10%, the seller is no longer a 'substantial shareholder' under SEBI rules, reducing disclosure obligations and possibly triggering changes in board representation or governance agreements.
- How does this compare to SoftBank's recent sale?
- SoftBank sold 3.25% stake for ₹2,859 crore on June 6, also pushing its holding below 10%. Two large exits in eight days raise questions about institutional commitment.
- Is Lenskart's valuation justified?
- Lenskart trades at a trailing P/E of 174x despite a 7% PAT decline, reflecting high growth expectations. Revenue grew 32% in FY26 to ₹90 billion, but profitability has lagged.
- Could this affect Lenskart's IPO plans?
- Possibly. The two large stake sales reduce the free-float and signal that early investors are cashing out, which could temper IPO pricing or delay the offering.
Lenskart Solutions Ltd.
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All notes on LENSKART →- 12 Jun 2026 · 5:33 PM IST ADIA trust pares Lenskart stake below 10% after SoftBank exit
- 6d ago SoftBank exits Lenskart below 10%, sells ₹2,859 crore in open market.
- 16d ago Lenskart's India margins hit 64% as Japan scales to 7% EBITDA
- 23d ago Lenskart's FY26 growth was strong, but it was already priced in