Key Takeaway:
- Block deal worth ₹5,315 crore cleared as the six-month post-IPO lock-in expired.
- Major investors, including TR Capital and ABG Capital, exited their entire holdings.
- Strong institutional demand pushed the trade size from $350M to $600M.
Lenskart shares rose more than 2% Friday after a block deal involving 11.22 crore shares worth about ₹5,315 crore took place as the company’s six-month post-IPO lock-in period expired.
The stock traded 2% higher at ₹498.10 on the NSE after the transaction, according to market data. The deal involved 6.46% of the company’s equity changing hands at ₹473.4 per share, CNBC-TV18 reported.
Investors Exit Through Large Block Deal
Several existing investors, including Birdseye View Holdings, TR Capital Mauritius, ABG Capital, and Kariba Holdings, are seeking to exit their entire holdings through the transaction, according to CNBC-TV18, citing sources.
The report said the original deal size of nearly $350 million was later increased to around $600 million, or about ₹5,650 crore, due to investor interest. The transaction also includes an upsize option if demand remains strong.
Another investor, Alpha Wave, is also participating in the sale but will remain subject to a 90-day lock-in period for any further stake disposal.
The reported floor price for the block deal was fixed at ₹470 per share, representing a discount of about 3.6% to Thursday’s closing price of ₹492.4.
Market analysts said the block trade reflects early investors monetizing holdings after the expiry of mandatory lock-in restrictions.
“The transaction indicates strong liquidity appetite despite the discount pricing,” said a Mumbai-based institutional equities analyst who tracks consumer technology companies.
Lock-In Expiry Frees Up 60% Of Equity
Friday also marked the end of the six-month shareholder lock-in period following Lenskart’s November 2025 listing.
Reports said about 1,047.4 million Lenskart shares, equivalent to nearly 60% of the company’s outstanding equity, became eligible for trading after the restriction expired.
Large post-lock-in share sales are common in newly listed companies as early investors and private equity firms look to partially or fully exit investments.
Despite the increase in tradable shares, the stock remained firm during morning trade, suggesting continued investor interest in the eyewear retailer.
A market participant familiar with the deal said institutional demand remained “healthy” even after the expanded deal size.
Weak IPO Debut Still Weighs On Sentiment
Lenskart made a weak stock market debut in November 2025, listing below its issue price of ₹402 per share on both the BSE and NSE.
On the BSE, the stock opened at ₹390, nearly 3% below the issue price, before falling more than 11% intraday to ₹355.70. It later recovered to close above ₹403.
On the NSE, Lenskart shares were listed at ₹395 and dropped over 11% during the session before rebounding.
The company’s ₹7,278 crore IPO was subscribed 28.26 times, led largely by institutional investors. The offering included a fresh issue worth ₹2,150 crore and an offer-for-sale of 12.75 crore equity shares by promoters and existing investors.
Lenskart said it planned to use proceeds from the fresh issue to expand company-operated stores across India and meet lease and rental obligations for those outlets.
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