Lenskart Solutions shares fall as 2% equity change hands in block deal

Lenskart Solutions Ltd shares fell 3% on Monday as 3.53 crore  equity shares changed hands on the counter in a block deal, accounting for 2% of total outstanding shares. Existing shareholder Platinum Jasmine A 2028 Trust was looking to sell 3 crore Lenskart shares at around Rs 682.45 per share, with the price representing 3.5 per cent discount to the stock's previous close, as per term sheet seen by Bloomberg.

The transaction comes as the eyewear retailer's stock has seen heightened activity through block deals in recent sessions. At the proposed price of Rs 682.45, the deal would have an aggregate value of around Rs 2,047.35 crore.

Lenskart Solutions shares fell 3.11% on Monday, hitting a low of Rs 684.60, compared with their previous close of Rs 706.60.

The proposed stake sale comes after Lenskart's shares have delivered a strong gain since their market debut. The stock is currently around 79% above its IPO issue price of Rs 402 per share. Lenskart was listed on the Indian stock exchanges in November 2025.

Meanwhile, Motilal Oswal Financial Services (MOFSL) has retained its Buy rating on Lenskart and raised its target price to Rs 800 from Rs 705. The brokerage's September note attributed the company's performance primarily to strong earnings momentum and continued upgrades to consensus estimates, rather than a multiple re-rating.

MOFSL expects Lenskart's revenue, pre-IND AS Ebitda and adjusted PAT to grow at CAGRs of 27%, 46% and 59%, respectively, between FY26 and FY29. It also expects the company to expand its store network to 4,500 outlets in India by FY29, compared with its earlier estimate of 4,300 stores.

The brokerage highlighted Lenskart's store economics, limited organised competition, under-penetration of the eyewear category and robust free cash flow generation as key factors supporting its outlook. It also pointed to the company's centralised manufacturing facility, backward integration, omnichannel presence and technology-led operations as structural advantages.

MOFSL raised its FY27-28E consolidated pre-IND AS Ebitda estimates by 4% and 8%, respectively, citing higher store additions in India and operating leverage across its Indian and international businesses. It expects pre-IND AS Ebitda margins to improve to 19.4% in India and 13.5% internationally by FY29.