Lenskart is set to witness one of the biggest block deals in India’s consumer-tech space. The existing investors are planning to sell shares worth nearly Rs. 5,650 crore after the expiry of the company’s six-month post-listing lock-in period.
The proposed deal comes amid heightened market activity around the stock, with investors expected to offload shares at a floor price of Rs 470 apiece, around 3.6% below the previous closing price.
According to reports, nearly 7 crore shares could change hands through the block deal, with an option to increase the deal size depending on investor demand.
Several early investors, including Birdseye View Holding, TR Capital Mauritius, ABG Capital, and Kariba Holdings, are reportedly looking to exit their investments completely. Alpha Wave may also trim its holdings, although a part of its shares could remain under a separate lock-in arrangement.
The block deal size was earlier estimated at around Rs. 3,293 crore but has now been increased significantly, indicating strong institutional interest in the transaction.
The development follows the end of Lenskart’s shareholder lock-in period, which has made nearly 1,047 million shares eligible for trading in the open market. At current market prices, the unlocked shares are valued at more than Rs. 51,000 crore.
Market participants often track lock-in expiries closely because they can increase selling pressure when early investors seek partial or full exits.
Also Read: Lenskart Shares Jump Over 5% on Strong Q2 Earnings; Jefferies Sets Rs. 500 Target
Lenskart shares remained volatile amid reports of the large-scale stake sale. The stock fell more than 2% in early trading before partially recovering later in the session.
A separate bulk transaction also saw more than 11 crore shares changing hands for over Rs. 5,300 crore at an average price of Rs. 473.4 per share.
Analysts said the pressure on the stock reflects concerns over increased supply rather than doubts about the company’s business fundamentals or long-term growth outlook.