Stake Sale At Lenskart, Ethereal Bags $28 Mn & More
ADIA sold Lenskart shares worth ₹1,960 crore after the IPO lock-in expired, while the page also highlights Ethereal Machines' $28 million raise and other India startup updates.
Intelligence analysis by GPT-5.4 Mini
The roundup leads with ADIA trimming its Lenskart stake as post-IPO profit booking continues, with major domestic and global investors taking up the shares. It then bundles other India startup and tech updates, including Ethereal Machines' Series B, Opendoor's India layoffs, OneAssist's AI push, Manam Chocolate's raise, and IN-SPACe backing for three spacetech startups.
A big investor sold some of its Lenskart shares after the company went public, like cashing out chips after a game. The page also lists other startup news: one company raised money to build smart factory machines, while another lost jobs because computers are doing more work.
Analysis
Lenskart stake sale
The lead item reports that Abu Dhabi Investment Authority sold Lenskart shares worth ₹1,960 crore through its Platinum Jasmine A 2018 Trust. The sale covered 4 crore shares at ₹490 apiece and came after the six-month post-IPO lock-in expired on May 8.
The page frames this as part of a broader profit-booking wave around Lenskart. It says SoftBank sold ₹2,873.3 crore worth of shares on June 3, JP Morgan sold ₹96.42 crore on June 5, and Alpha Wave Ventures plus TR Capital collectively sold stakes worth ₹3,861 crore on May 9. At the same time, domestic institutions such as Kotak Mahindra MF, Canara Robeco MF, and NPS Trust bought in, while Goldman Sachs and Morgan Stanley picked up foreign tranches.
The article says Lenskart’s stock has held up despite the churn. Since its November 2025 debut, the shares are said to be up nearly 25% over the ₹402 issue price, implying a market cap of about ₹87,345 crore. It also cites Q4 FY26 revenue of ₹2,515.7 crore, up 46% year over year, with profit at ₹203.6 crore, down 7.5%.
Other startup updates
The rest of the page is a brief roundup. Ethereal Machines raised about ₹272 crore in a Series B led by Avataar Ventures, with plans to build a 3 lakh sq ft facility, improve its AI software Vesper, and develop an indigenous multi-axis CNC controller. The startup says it has raised nearly $50 million so far.
The roundup also notes that Opendoor shut its India office and laid off about 250 employees, citing AI-led automation. OneAssist is trying to expand protection plans for used phones with its Hawk Eye system, while Manam Chocolate raised about ₹86 crore and IN-SPACe selected Astrobase, SatSure, and TakeMe2Space for funding under its adoption scheme.
Key points
- ADIA sold Lenskart shares worth ₹1,960 crore after the IPO lock-in expired.
- The sale is part of a wider profit-booking wave that has included SoftBank, JP Morgan, Alpha Wave Ventures, and TR Capital.
- Lenskart’s stock is described as holding up well, with the page citing a nearly 25% gain over the IPO price.
- Ethereal Machines raised about ₹272 crore in a Series B to expand manufacturing and build new AI and CNC products.
- The roundup also mentions Opendoor layoffs, OneAssist's AI plan, Manam Chocolate's funding, and IN-SPACe support for three spacetech startups.
If the buying from mutual funds and global investors continues, Lenskart could keep trading steadily even as early backers exit. The funding for Ethereal Machines, Manam Chocolate, and the spacetech startups suggests investor interest is still strong in Indian deeptech and consumer businesses.
If more early investors keep selling after the lock-in expiry, Lenskart could face continued cap-table churn and valuation pressure. The Opendoor layoffs also show that AI-led automation can quickly reduce India-based teams when companies decide to shift workflows.
