"Prinz": Kuwaiti Acquisition of "Lenskart" for $223 Million
Kuwait emerged among a group of international and local institutional investors who acquired a stake in Indian eyewear company Lenskart Solutions in a deal valued at approximately 1,856.8 crore rupees, equivalent to around $223 million. The transaction was part of a series of ownership restructuring deals in the Indian stock market, with a total value nearing $460 million.
According to the Indian website TradeBrains, the list of buyers in Lenskart, one of India’s leading eyewear companies, included 33 international and local institutional investors. These included the Public Authority for Investment, alongside India’s National Pension System, and asset management firms SBI, ICICI Prudential, and White Oak Capital. Global investment banks Morgan Stanley and Goldman Sachs also participated.
While the total value of the deal was approximately $223 million, the website did not specify Kuwait’s individual investment amount, as the sold shares were distributed among the participating investors.
Lenskart witnessed one of the most prominent trading sessions, with approximately 29.5 million shares traded in a consolidated deal valued at nearly 1,857 crore rupees, at a price of 630 rupees per share. This represented about 1.7 percent of the company’s shares.
Market data indicated that Alpha Wave Ventures and Alpha Wave Ventures 2 were among the main sellers in the deal. Lenskart’s share price showed notable movements following the transaction, reflecting continued interest from institutional investors in the company and the Indian eyewear market.
According to the website, the Indian market recently recorded four deals involving companies operating in diverse sectors, including eyewear and optical solutions, energy infrastructure, electric vehicles, and pharmaceuticals. This highlights the ongoing activity of major investors and institutions in the Indian market, with some shareholders looking to increase their investments in companies they view as having growth potential, while others are rebalancing their portfolios and diversifying investments across different market sectors.
In the electric vehicle sector, Hero MotoCorp, the main shareholder in Ather Energy, increased its stake in the electric motorcycle manufacturer by acquiring an additional 11.8 million shares, representing 3.01 percent of the company’s shares.
The acquisition was made from the Singaporean government for 1.758.24 crore rupees, a move reflecting Hero MotoCorp’s strategy to strengthen its investment in the company. Ather Energy’s share price rose by more than 3 percent, reaching 1,666 rupees per share.
In the energy infrastructure sector, Cheeswick Investment, a subsidiary of Singapore’s GIC group, sold approximately 3.578 million shares in Genus Power Infrastructures, representing 1.17 percent of its stake. The sale was valued at 116.12 crore rupees, at a price of 324.5 rupees per share.
Conversely, Art Corporate Advisors acquired approximately 1.386 million shares worth 45 crore rupees, while the HSBC Mutual Fund purchased around 2.191 million shares valued at 71.12 crore rupees. Cheeswick held a 15.11 percent stake in the company until June 2026. Meanwhile, Genus Power’s share price fell by 4.23 percent, closing at 335.3 rupees.
In the pharmaceuticals sector, major shareholder Arun Kumar Belia increased his ownership in Strides Pharma Science by purchasing an additional million shares, representing 1.08 percent of the company’s capital. The transaction was valued at 99 crore rupees, at a price of 990 rupees per share.
The purchase came from SPI Life Insurance, which held a 4.76% stake in the company until June 2026. Shares of Strides Pharma Science fell slightly by 1%, closing at 1.010 rupees per share.
