LENSKART SHARES FALL AFTER ₹2,468 CRORE BLOCK DEAL

Shares of Lenskart Solutions fell more than 2% in early trade after a large block deal worth ₹2,468 crore was executed in the eyewear retailer, marking another significant secondary-market transaction in the stock in recent weeks. Around 3.6 crore Lenskart shares, representing 2.07% of the company’s equity, changed hands through block deals at ₹688 per share. Lenskart shares were trading down 2.2% on the day. Despite Monday’s decline, the stock has gained 57.5% so far, sharply outperforming the Nifty 50, which has declined 10.7% over the same period. The company’s market capitalisation stood at around ₹1.2 lakh crore. The transaction followed reports that Platinum Jasmine A 2018 Trust was looking to sell its stake in Lenskart. The proposed deal was initially estimated at around ₹2,047.4 crore, representing approximately 1.7% of the company’s equity, with a floor price of ₹682.45 per share. The floor price represented a 3.5% discount to Lenskart’s previous closing price. However, the actual block transaction on Monday was larger, with around 3.6 crore shares changing hands for ₹2,468 crore at ₹688 per share. Under the earlier deal terms, shares sold through the transaction were subject to a 90-day lock-in period for further sales. The latest block deal comes shortly after Lenskart reported a strong improvement in its first-quarter financial performance. Net profit surged to ₹222 crore in Q1 FY27, while revenue rose 43.3% year-on-year. EBITDA increased 75.1%, with the EBITDA margin expanding to 21.7% from 17.7% in the year-ago quarter.