Lenskart Block Deal Sees 3.25% Equity Stake Sold for ₹2,873 Crore

Lenskart Shares Dip After Block Deal, Despite Brokerages' Positive Outlook

Shares of Lenskart Solutions fell over 1 percent on Wednesday following a large block deal worth approximately Rs 2,873 crore, with 5.65 crore shares changing hands at Rs 508.50 apiece in the block deal window. This transaction represented about 3.25 percent of Lenskart's equity, although the identities of the buyers and sellers remained unknown.

Lenskart shares dropped to Rs 518 in morning trade, a decline of 1.2 percent on the day. Despite this setback, the eyewear company's stock remains up more than 28 percent from its November 2025-IPO issue price. With a market capitalization of over Rs 91,000 crore, Lenskart continues to attract investor attention.

The block deal comes at a time when brokerages remain optimistic about Lenskart's growth prospects. On Tuesday, CLSA initiated coverage on the company with an 'outperform' rating and a target price of Rs 604 per share, implying potential upside of about 17 percent from Tuesday's closing levels. CLSA cited Lenskart's strong presence across urban and mass-market segments, as well as its technology-enabled and integrated operating model.

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Separately, Bank of America Securities also initiated coverage on the stock with a 'buy' rating and a price objective of Rs 575 per share. The brokerage highlighted Lenskart's expansion in the underpenetrated eyewear market in India and select international geographies, in addition to its strong execution, improving customer metrics, and healthy unit economics.

Lenskart reported a mixed set of March quarter earnings last month, with revenue rising 45.6 percent year-on-year to Rs 2,515.7 crore. EBITDA jumped 84 percent to Rs 538.4 crore, and margins improved to 21.4 percent. However, net profit declined 8.6 percent year-on-year to Rs 200 crore.

Note: The potential upside for CLSA's target price is calculated based on the 17% increase from Tuesday's closing levels, and the actual value may differ.

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