The official buyers and sellers are not yet known.
On Friday, September 18, sources told CNCB-TV18 that Platinum Jasmine A 2018 Trust was likely to sell up to 1.7% equity in Lenskart Solutions for ₹2,047.4 crore. The offer price was set at ₹682.45 per share, the sources added.
Platinum Jasmine is an investment vehicle of the Abu Dhabi Investment Authority (ADIA). The seller will be subject to a 90-day lock up period on further stake sale.
At the end of the June the quarter, promoter entities held 17.53% stake in Lenskart Solutions, while public shareholders held 82.05%, as per data available on the stock exchanges. Of this, Platinum Jasmine A 2018 Trust held 9.77% stake in the company.
This is the third block deal in Lenskart in the past month.
On August 24, a total of 4.5 crore shares or 2.59% equity of Lenskart changed hands via block deals. It was later revealed that Softbank Vision Fund (SVF) II Lightbulb had sold the 4.5 crore shares worth ₹2,887.9 crore on the Bombay Stock Exchange (BSE). Societe General ODI bought 1.07 crore shares worth ₹688.92 crore on BSE. The deal was executed at an average price of ₹641.75 per share.
On August 28, as many as 2.9 crore shares or 1.67% equity of the company worth ₹1,856.7 crore changed hands in a block deal. Alpha Wave Ventures had sold the 2.95 crore shares or 1.7% equity in the company for ₹1,857 crore.
National Pension Systems bought 78.57 lakh shares, or 0.45% equity for ₹495 crore, ICICI Prudential Mutual Fund bought 60.3 lakh shares or 0.35% equity in Lenskart for ₹380 crore, and Whitoak Capital Mutual Fund bought 15.87 lakh shares or 0.1% equity for ₹100 crore.
That deal was executed at an average price of ₹630 per share.
Lenskart was also part of the FTSE Rebalancing which took place on Friday, where its weightage increased on the FTSE All Cap Index. The increase in weightage was supposed to result in inflows worth up to $60 million. That also resulted in the stock moving higher towards a new post-listing high.
Lenskart reported its first quarter earnings last month. Its net profit surged to ₹222 crore from ₹60 crore last year, while its revenue increased 43.3% to ₹2,714.2 crore from ₹1,894.5 crore.
Shares of Lenskart Solutions were down 3% at ₹686.6 apiece at 9.20 am on Monday. The stock has risen 3.8% in the past month and has gained 56.6% this year, so far.
It is also up 79.5% from its issue price of ₹402 apiece and 82.6% higher than its listing price of ₹395 per share in November last year.
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