Block deal today: Lenskart stock in focus as 3 crore shares to change hands; key details

Block deal today: Lenskart Solutions Ltd is likely to see block deals on Monday, as existing shareholder Platinum Jasmine A 2028 Trust is looking to offload 3 crore shares at Rs 682.45 crore, aggregating Rs 2,047.35 crore, Bloomberg reported. The price band is at a 3.5 per cent discount to Friday's closing price, as per the term sheet.

Lenskart has been seeing block deals of late as the stock is up 79 per cent over the IPO issue price of Rs 402 apiece. The stock got listed in November 2025. The 12-month consensus target on Lenskart at Rs 693.48 implied a 1.9 per cent potential downside. Nomura has a target of Rs 888 on the stock, the highest on the Street. Ambit Capital finds it worth Rs 496, the lowest on the Street.

MOFSL, in a September note, said the strong performance has largely been driven by strong earnings momentum, leading to consistent upgrades in consensus estimates (FY28 PAT up by 30 per cent) and roll-forward, rather than multiple re-rating.

"Given its best-in-class store economics (store payback, 33 per cent store Ebitda margin), limited organised competition, under-penetrated category, and robust FCF generation (despite front-ended capex for Hyderabad plant), we expect Lenskart to ramp up store additions and reach 4,500 stores in India by FY29 (versus 4,300 stores earlier)," MOFSL said.

Lenskart, it said, has built strong moats in a difficult-to-scale category through a centralised, highly automated manufacturing facility; strong backward integration; large omnichannel presence; leveraging technology to ease constraints in scaling up; and house-of-brands architecture spanning mass to premium eyewear.

"We raise our FY27-28E consolidated pre-IND AS Ebitda by 4 per cent/8 per cent, driven by higher store additions in India and operating leverage across India and Int’l. We model 27 per cent/46 per cent/59 per cent CAGR in revenue/pre-IND AS Ebitda/adj. PAT over FY26-29E, driven by 29 per cent/25 per cent revenue CAGR in India/Int’l. We expect pre-IND AS Ebitda margin to expand to 19.4 per cent/13.5 per cent in India/International by FY29," MOFSL said.

MOFSL reiterated Buy with a revised target of Rs 800 (earlier Rs 705), based on a 49x Sep’28 blended pre-IND AS Ebitda multiple (55 times for India, 37.5x for International).