Lenskart Shares Decline 2% Following 5,316-Crore Block Deal
Lenskart Shares Fall 2.1% After Block Deal Worth Rs 5,315.6 Crore
Shares of Lenskart Solutions Ltd fell over 2 percent on Friday morning after a large block deal involving more than 6 percent equity in the eyewear retailer was executed through the exchange window. The company's stock was trading at Rs 477 in early morning trade, down 2.1 percent for the day.
The block deal involved a significant transaction of 11.22 crore shares, representing 6.46 percent equity stake in the company, which was executed at Rs 473.4 per share. This implies a 3.9 percent discount to Thursday's closing price of Rs 492.4. The total value of the transaction is approximately Rs 5,315.6 crore.
This block deal follows reports that several existing investors were looking to pare holdings after the expiry of Lenskart's six-month shareholder lock-in period. Investors including Birdseye View Holding and TR Capital Mauritius were planning stake sales through a clean-out trade, while another investor, Alpha Wave, was also expected to participate in the transaction. Notably, Alpha Wave was subject to a 90-day lock-in for any further sale.
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The transaction comes after Lenskart's lock-in expiry made a substantial portion of the company's equity eligible for trading. According to Nuvama Alternative & Quantitative Research, around 1,047.4 million shares, or nearly 60 percent of the company's outstanding equity, became eligible for trading from Friday.
Based on Lenskart's March-quarter shareholding pattern, Alpha Wave held nearly 7 percent stake in the company, while Birdseye View Holdings owned 1.92 percent. The holdings of some other reported sellers may be below the 1 percent public disclosure threshold.
Lenskart shares have seen pressure ahead of the transaction, falling around 7 percent over the previous five trading sessions before Friday's trade. Despite the recent decline, the stock still remains above its IPO issue price of Rs 402 per share following its November 2025 listing.
| Investor | Stake in Lenskart | Shares Involved in Block Deal |
|---|---|---|
| Alpha Wave | 7% | 7.94 crore |
| Birdseye View Holdings | 1.92% | 2.16 crore |
| TR Capital Mauritius | 1.55% | 1.73 crore |
| ABG Capital | 1.34% | 1.51 crore |
| Kariba Holdings | 1.23% | 1.38 crore |
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Investor Takeaway
Investors should be cautious of potential stock price volatility following large block deals.
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