Shares of Lenskart Solutions Ltd experienced a modest decline in Wednesday's trading session after a substantial block deal was executed. The transaction involved 5.65 crore shares, valued at roughly ₹2,873.31 crore, with shares trading at ₹508.50 apiece in the block deal window.
The identities of the buyers and sellers involved in this large transaction were not disclosed at the time of reporting. Despite the dip, Lenskart's stock, last seen trading 0.97 percent lower at ₹519.10, remains more than 29 percent above its initial public offering (IPO) price of ₹402.
This significant share movement comes after the expiration of Lenskart's six-month post-listing lock-in period on May 8, 2026. This event unlocked approximately 104.7 crore shares, constituting about 60 percent of the company's total equity.
Analyst Outlook Remains Positive
Despite the recent share slip, several financial analysts have maintained a positive outlook on Lenskart Solutions. Elara Capital recently initiated coverage on the stock with a 'Buy' rating, setting a target price of ₹615.
"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," Elara Capital stated.
Elara Capital highlighted Lenskart's superior store economics, strong gross margins, and quick payback period, noting its capacity investment and tech-led consumer experience create a significant competitive moat. They project a 25 percent revenue CAGR and 38 percent EBITDA CAGR for the company between FY26-29E.
Similarly, JM Financial reiterated its 'BUY' rating with an unchanged DCF-based target price of ₹585. The brokerage noted Lenskart's robust Q4 FY26 performance, where consolidated revenue grew by 41 percent, driven by strong growth in both Indian and international markets. India alone saw a 44 percent growth, with a strong same-store sales growth (SSSG) of 24.2 percent.
"With consistent execution across both India and international markets, we believe Lenskart's growth journey will continue to accelerate," JM Financial commented, also increasing their FY27–28E pre-Ind AS EBITDA estimates by 3 percent.
The eyewear retailer currently boasts a market capitalization exceeding ₹90,000 crore, reflecting its strong position in the market despite short-term fluctuations.