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crore. ADIA-backed Platinum Jasmine A 2018 Trust pared its holding in Lenskart Solutions on Thursday, selling a 2.3% stake, according to exchange data. The investor sold 4 crore shares at Rs 490 apiece, a discount of around 2% to Lenskart's previous closing price of Rs 500.15.As for stake purchase, Kotak Mahindra Mutual Fund emerged as the largest buyer, picking up more than 1.2 crore shares. Other key buyers included Canara Robeco Mutual Fund with 32.2 lakh shares, Franklin Templeton Mutual Fund with 22.4 lakh shares and Mirae Asset Mutual Fund, which acquired 22 lakh shares.The transaction also drew interest from insurance companies and pension funds. Buyers included ICICI Prudential Life Insurance, HDFC Life, Kotak Mahindra Life Insurance and the National Pension System (NPS) Trust.Among other foreign investors, Viridian Asia Opportunities, Integrated Core Strategies (Asia) and Ghisallo Master Fund purchased shares in the deal.The stake sale came within days of another significant shareholder exit from the eyewear retailer. Earlier this month, SoftBank affiliate SVF II Lightbulb (Cayman) offloaded 5.65 crore shares at Rs 508.55 each through a block deal worth about Rs 2,873 crore.Despite the recent stake sales, brokerages remain positive on Lenskart's long-term growth outlook. Elara Capital recently initiated coverage on the stock with a Buy rating and a target price of Rs 615, indicating potential upside from current levels.The brokerage cited Lenskart's integrated business model, which spans eye testing, manufacturing, distribution and retail operations. It expects the company to deliver a revenue CAGR of 25% and an EBITDA CAGR of 38% between FY26 and FY29.Lenskart currently operates more than 600 stores worldwide and has strengthened its international presence through acquisitions such as Owndays and Meller. Overseas operations contribute about 42% of revenue, while its technology-driven vision care platform and backward-integrated manufacturing network have helped it become one of India's largest eyewear retailers.Lenskart Q4 snapshotThe company reported a nearly 46% YoY surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26, from Rs 1,727 crore in the year-ago period, leading to bullish brokerage calls and target price hikes.While the company reported a strong surge in revenue, its net profit declined 9% YoY to Rs 200 crore during the quarter under review, from Rs 219 crore in the corresponding quarter of the previous financial year.For the entire financial year which ended on March 31, 2026, Lenskart reported a 32% YoY rise in revenue to Rs 9,002 crore. EBITDA climbed 55.3% YoY to Rs 1,789 crore, while adjusted PAT surged 148% YoY to Rs 530 crore.Sensex, Nifty today: Catch all the LIVE stock market action here(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)