Secondary Market Transaction
Shares of Lenskart Solutions declined by more than 2 percent in early trade on September 21, following the execution of a significant block deal. The transaction involved the sale of approximately 3.6 crore shares, representing 2.07 percent of the company's total equity, at a price of Rs 688 per share. This move resulted in a total transaction value of Rs 2,468 crore.
At the time of reporting, Lenskart shares were trading at Rs 692, marking a 2.2 percent drop for the day. Despite this immediate dip, the stock has demonstrated strong performance in the current fiscal year, gaining 57.5 percent in 2026. This stands in contrast to the Nifty 50 index, which has declined by 10.7 percent over the same period. The company's market capitalisation is currently valued at approximately Rs 1.2 lakh crore.
Deal Details and Context
The recent transaction aligns with earlier reports indicating that Platinum Jasmine A 2018 Trust was exploring the sale of its Lenskart holdings. Initial indications suggested a deal size of around Rs 2,047.4 crore, covering about 1.7 percent of the company's equity at a floor price of Rs 682.45 per share. This floor price represented a 3.5 percent discount to the previous closing price.
However, the actual block trades executed on Monday were larger than initially indicated. The final transaction involved 3.6 crore shares changing hands for Rs 2,468 crore. According to the deal terms, the shares sold in this transaction are subject to a 90-day lock-up period, restricting any further sale of these specific shares during that timeframe.
Recent Trading Activity
Monday's transaction is part of a series of large-scale secondary market activities in Lenskart shares during August. In late August, Alpha Wave Ventures sold 2.95 crore shares (1.7 percent equity) for Rs 1,857 crore at an average price of Rs 630 per share. Buyers in that instance included the National Pension System, which acquired 78.57 lakh shares for Rs 495 crore, and ICICI Prudential Mutual Fund, which purchased 60.3 lakh shares for Rs 380 crore. WhiteOak Capital Mutual Fund also participated, buying 15.87 lakh shares for Rs 100 crore.
Earlier in August, another major deal saw SVF II Lightbulb sell 4.5 crore shares worth Rs 2,887.9 crore on the BSE. Societe Generale ODI was a buyer in this transaction, acquiring 1.07 crore shares worth Rs 688.92 crore at an average price of Rs 641.75 per share.
Financial Performance
The latest block deal occurs against a backdrop of improved financial results for Lenskart. In its first-quarter earnings for FY27, the company reported a sharp increase in profitability. Net profit rose to Rs 222 crore, up from Rs 60 crore in the same period the previous year. Revenue grew by 43.3 percent year-on-year to reach Rs 2,714.2 crore.
Operational efficiency also improved, with EBITDA climbing 75.1 percent to Rs 588.5 crore. Consequently, the EBITDA margin expanded to 21.7 percent from 17.7 percent a year earlier. The company's Profit After Tax (PAT) margin increased by 443 basis points to 8.4 percent. Notably, the consolidated product margin crossed the 70 percent threshold for the first time, reaching 70.3 percent during the quarter.