Eyewear retailer Lenskart Solutions saw a block deal worth Rs 1,862 crore on Thursday, with 3.80 crore shares, representing 2.2% of the company's equity, changing hands on the exchanges. Following the transaction, the stock opened more than 1% lower at Rs 496 per share.
The floor price for the transaction was Rs 490 per share, a discount of about 2% to Lenskart's Wednesday closing price of Rs 500.15 on the BSE.
The Economic Times previously reported that Abu Dhabi Investment Authority (ADIA) was looking to trim its holding in the eyewear retailer, coming shortly after SoftBank monetised part of its stake in the company.
According to deal terms reviewed by The Economic Times, Platinum Jasmine A 2018 Trust, ADIA's investment vehicle, plans to sell up to 4 crore shares, equivalent to around 2.3% of Lenskart's outstanding equity, via a secondary share sale.
As part of the transaction terms, the seller has committed to a 90-day lock-up period on its remaining shareholding. IIFL Capital Services is acting as the sole placement agent.
The proposed sale follows another large transaction in Lenskart shares last week. SoftBank affiliate SVF II Lightbulb (Cayman) sold 5.65 crore shares at Rs 508.55 apiece, raising nearly Rs 2,873 crore. The block deal saw participation from several prominent investors, including Goldman Sachs, Fidelity, ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, Quant Mutual Fund and HDFC Life Insurance.
Even as early investors continue to pare their holdings, brokerages remain positive on Lenskart's growth outlook.
Lenskart Q4 snapshot
The company reported a nearly 46% YoY surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26, up from Rs 1,727 crore in the year-ago period, prompting 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.
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