New Delhi, Sept. 21 -- Abu Dhabi Investment Authority (ADIA) pared its holding in eyewear company Lenskart Solutions on Monday, selling shares worth Rs 2,390 crore in an open market transaction.
ADIA, through its affiliate Platinum Jasmine A 2018 Trust, sold 3.5 crore shares, representing a 2.01 per cent stake in Gurugram-based Lenskart Solutions, according to the bulk deal data on the National Stock Exchange (NSE).
The shares were offloaded at an average price of Rs 683.02 apiece, taking the aggregate value to Rs 2,390.57 crore.
The transaction brought ADIA's holding down to 7.76 per cent from 9.77 per cent. After the stake sale, ADIA will remain the second largest public shareholder in Lenskart after SoftBank.
The buyers of the shares could not be identified from the exchange data.
Lenskart's shares on Monday fell 3.10 per cent to close at Rs 685.30 apiece on the NSE.
The stake sale comes after a series of transactions by existing investors in the eyewear retailer.
In June this year, technology investor SoftBank Group divested a 3.25 per cent stake in Lenskart Solutions for Rs 2,873 crore.
In May, Lenskart reported a 7.5 per cent year-on-year decline in consolidated profit after tax (PAT) to Rs 203.6 crore in the March quarter due to a rise in expenses on components and inventories.
Published by HT Digital Content Services with permission from Millennium Post.