Lenskart Solutions shares slip following ₹2,468 crore block deal

Lenskart Solutions shares fell 3% on Monday following a block deal worth ₹2,468 crore. The transaction involved approximately 3.6 crore shares, representing 2.07% of the company’s total equity, traded at an average price of ₹688 per share. While official buyers and sellers are unconfirmed, market sources suggest the seller may be the Platinum Jasmine 2018 Trust, an investment vehicle linked to the Abu Dhabi Investment Authority.

This marks the third major block deal for Lenskart in the past month, following significant sales by SoftBank’s Vision Fund in late August and Alpha Wave Ventures. Despite the recent volatility, Lenskart’s stock remains significantly higher than its IPO price of ₹402 and has risen nearly 57% since the start of the year.

In a separate development, ICICI Securities initiated coverage on Lenskart with a ‘BUY’ rating and a 12-month price target of ₹850, suggesting a potential 23% upside. The brokerage highlighted Lenskart’s vertical manufacturing capabilities and its AI-led omnichannel network of nearly 3,500 stores as key competitive advantages in the growing Indian eyewear market.