Lenskart Solutions shares slip after Rs 2,873 crore block deal; details here

Shares of Lenskart Solutions Ltd declined in Wednesday's trade after a large block deal involving 5.65 crore shares worth around Rs 2,873.31 crore was executed.

According to exchange data, shares changed hands at Rs 508.50 apiece in the block deal window. The identities of the buyers and sellers were not known at the time of publishing this story.

The stock was last seen trading 0.97 per cent lower at Rs 519.10. Despite the decline, Lenskart shares remain more than 29 per cent above their initial public offering (IPO) price of Rs 402. The eyewear retailer currently commands a market capitalisation (m-cap) of over Rs 90,000 crore.

Notably, Lenskart's six-month post-listing lock-in period expired on May 8, 2026, unlocking nearly 104.7 crore shares, which account for around 60 per cent of the company's total equity.

Elara Capital recently initiated coverage on the stock with a 'Buy' rating.

"Lenskart has built one of India's most differentiated retail models by creating a full-stack ecosystem around eyewear. It is set to emulate the trajectory of Titan's jewelry business, enabling it to compound market share growth over time and emerge as a category-defining leader, much like Tanishq in jewelry," it stated.

"Lenskart offers a combination of superior store economics (21 per cent: FY26 SSSG; 68.9 per cent: gross margin, ~10.3-month payback), capacity investment, and tech-led consumer experience. It has created a moat that would be difficult to replicate, making the business resistant to competition and hence, a structural compounder. Acquisitions will improve ASP mix and product offerings, strengthening the retail model. Initiate with Buy for a TP of Rs 615 (50x pre-IndAS FY28E EV/EBITDA). We model in 25 per cent revenue CAGR and 38 per cent EBITDA CAGR (pre-IndAS 116) in FY26-29E," Elara also said.

JM Financial highlighted the company's strong quarterly performance.

"Lenskart's Q4 FY26 print was robust with consolidated revenue growing by 41 per cent primarily led by 44 per cent growth in India and 35 per cent growth in the international business and was a beat to our estimates by 3 per cent. Growth was led by strong SSSG (24.2 per cent in India)," the brokerage noted.

"With consistent execution across both India and international markets, we believe Lenskart's growth journey will continue to accelerate. Given the strong Q4 performance, we increase our FY27–28E pre-Ind AS EBITDA estimates by 3 per cent; our DCF-based TP is unchanged at Rs 585, with a WACC of 12 per cent and 6 per cent terminal growth rate. Our TP implies 53x FY28E EV/EBITDA (pre-Ind AS); retain BUY," it added.