Shares of Lenskart Solutions Ltd experienced a 3.11% drop on Monday, hitting an intraday low of Rs 684.60. This decline occurred as 3.53 crore equity shares, making up 2% of the company's total outstanding shares, were traded in a significant block deal on the Indian stock exchanges.
Details of the Block Deal
According to reports, Platinum Jasmine A 2028 Trust, an existing shareholder, was looking to offload approximately 3 crore Lenskart shares. The proposed transaction price was around Rs 682.45 per share, which represented a 3.5% discount compared to the stock's previous closing price of Rs 706.60. At this price, the block deal's aggregate value was estimated to be around Rs 2,047.35 crore.
This transaction marks continued heightened activity for the eyewear retailer's stock through block deals in recent trading sessions.
Stock Performance Since IPO
Lenskart Solutions made its debut on Indian stock exchanges in November 2025 with an IPO issue price of Rs 402 per share. Despite Monday's dip, the stock has delivered a strong performance, currently trading approximately 79% above its initial listing price.
Analyst Outlook Remains Positive
Amidst the block deal, Motilal Oswal Financial Services (MOFSL) has maintained its 'Buy' rating on Lenskart shares, raising its target price to Rs 800 from Rs 705. MOFSL's September note highlighted strong earnings momentum and consistent upgrades to consensus estimates as key drivers for the company's performance.
The brokerage projects Lenskart's revenue, pre-IND AS EBITDA, and adjusted PAT to grow at Compound Annual Growth Rates (CAGRs) of 27%, 46%, and 59% respectively between FY26 and FY29. MOFSL also anticipates Lenskart expanding its store network in India to 4,500 outlets by FY29, an increase from its earlier estimate of 4,300 stores.
Key Growth Drivers Identified
- Robust store economics
- Limited organized competition in the eyewear sector
- Under-penetration of the eyewear category in India
- Strong free cash flow generation
- Centralized manufacturing facility and backward integration
- Omnichannel presence and technology-led operations
MOFSL has revised its FY27-28E consolidated pre-IND AS EBITDA estimates upwards by 4% and 8% respectively, attributing this to higher store additions in India and operating leverage across both its Indian and international businesses. They expect pre-IND AS EBITDA margins to improve to 19.4% in India and 13.5% internationally by FY29.