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Lenskart shares rise after 2.6% equity changes hands in block deals
Lenskart Solutions shares gained 1.6% on Monday after block deals saw 4.5 crore shares, or 2.59% of the company, change hands. CNBC-TV18 had earlier reported, citing sources, that Softbank Vision Fund II was likely to sell up to 2.6% stake at a floor price of ₹635 per share. The official buyers and sellers are not yet known.
By Tertius News AI Desk1 outlet · 1 distinct · 1 articleVersion 1Coverage Published
Block Deal Executes
Lenskart Solutions shares rose on Monday after a significant block deal saw a 2.6% stake in the eyewear company change hands. As many as 4.5 crore shares, or 2.59% of Lenskart Solutions, were traded in block deals on August 24, according to CNBC-TV18.
The block deal follows a report from CNBC-TV18 on Saturday, August 22, citing sources, that Softbank Vision Fund (SVF) II Lightbulb Cayman was likely to sell up to 2.6% stake in Lenskart Solutions at approximately $300 million, with a floor price of ₹635 per share. The floor price represented a 4% discount to the stock's previous close of ₹661.4.
The official buyers and sellers in the block deal have not yet been identified. Sources added that the selling shareholder would have a 45-day lock-up for any residual stake sale.
Market Reaction
Shares of Lenskart Solutions were up 1.6% at ₹672.25 apiece at 9:16 am on Monday. The stock has gained 20.9% in the past month and 52.9% this year so far. Earlier this month, Lenskart shares crossed the ₹600 mark for the first time.
Ownership and Financials
At the end of the first quarter, promoter entities held an 18% stake in Lenskart, while public shareholding comprised 82%. SVF II Lightbulb Cayman held a 9.86% stake in the company, as per data available on the exchanges.
In the June quarter, Lenskart's profit after tax surged to ₹228.43 crore from ₹61.17 crore in the year-ago period. Revenue increased 43.3% to ₹2,714.18 crore from ₹1,894.46 crore. EBITDA increased 75.1% to ₹588.48 crore from ₹336.08 crore, while margins expanded to 21.7% from 17.7%.
Analysts have been bullish on the stock. Jefferies has maintained a Buy rating on Lenskart and raised its target price to ₹680 from ₹600. Morgan Stanley has an Overweight rating with a target price of ₹666. Goldman Sachs has an Accumulate rating and raised its target price to ₹715.
How this outlet told it
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CNBC TV18
Framing:Our reading measured
Facts Included:
On Saturday, August 22, CNBC-TV18 reported, citing sources, that Softbank Vision Fund (SVF) II Lightbulb Cayman was likely to sell up to 2.6% stake in Lenskart Solutions at approximately $300 million at a floor price of ₹635 per share.
As many as 4.5 crore shares or 2.59% of Lenskart Solutions' changed hands in block deals on Monday, August 24.
The official buyers and sellers are not yet known.
The selling shareholder would have a 45-day lock-up for residual stake sale, sources added.
At the end of the first quarter, promoter entities held 18% stake in Lenskart while public shareholding comprised 82%. SVF II Lightbulb Cayman held 9.86% stake in the company, as per data available on the exchanges.
Earlier this month, Lenskart shares crossed the ₹600 mark for the first time.
In the June quarter, its profit after tax surged to ₹228.43 crore from ₹61.17 crore.
Its revenue increased 43.3% to ₹2,714.18 crore from ₹1,894.46 crore in the previous fiscal.
EBITDA increased 75.1% to ₹588.48 crore from ₹336.08 crore while its margins expanded to 21.7% from 17.7% in the year-ago period.
Shares of Lenskart Solutions were up 1.6% at ₹672.25 apiece at 9.16 am.
The stock has gained 20.9% in the past month and 52.9% this year, so far.
AI-extracted; can misattribute a claim — see Methodology.
Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.
Claim
Confidence
Status
ClaimOn Saturday, August 22, CNBC-TV18 reported, citing sources, that Softbank Vision Fund (SVF) II Lightbulb Cayman was likely to sell up to 2.6% stake in Lenskart Solutions at approximately $300 million at a floor price of ₹635 per share.