Lenskart Solutions' shares fell more than 2% to Rs 497 on the BSE on Monday after JPMorgan Chase's offshore subsidiary Copthall Mauritius Investment sold a stake in the company through a Rs 96 crore block deal. Stock exchange data showed that Hong Kong-based hedge fund Viridian Asia Opportunities Master Fund bought 18.96 lakh shares of the company.

Viridian bought Lenskart shares at an average price of Rs 508.55 apiece, taking the value of the total stake purchase to more than Rs 96 crore, according to NSE data. The seller of these shares was JPMorgan Chase’s offshore subsidiary Copthall Mauritius Investment Limited. The transaction was executed on Friday at an average price of Rs 508.55 apiece, which is slightly higher than Friday’s closing price of Rs 506.45 apiece on NSE.

Lenskart has seen multiple block deals recently. Last week, SoftBank affiliate SVF II Lightbulb (Cayman) pared its stake in the eyewear retailer by selling 5.65 crore shares at Rs 508.55 apiece. Several global and domestic institutional investors picked up shares. The buyers included funds managed by Goldman Sachs and Fidelity, alongside domestic institutions such as ICICI Prudential Mutual Fund, Kotak Mutual Fund, Mirae Asset Mutual Fund, Quant Mutual Fund, HDFC Life Insurance, and ICICI Prudential Life Insurance. The deal, valued at approximately Rs 2,873 crore, also attracted participation from several overseas pension and investment funds.

Lenskart Solutions shares made a subdued market debut in November last year, listing at Rs 395 apiece on NSE at a discount to the IPO price of Rs 402. The shares of the company then surged more than 41% to hit a record high of Rs 557.65 apiece in April this year.

The stock is currently down over 9% from that level. However, it is up over 28% from its listing price and 26% from its IPO price. The shares of the company have fallen 2.5% in one week, but gained 15% in 2026 so far. The company currently has a market capitalisation of nearly Rs 88,000 crore.

Brokerages on Lenskart share price

Jefferies has a ‘Buy’ call on the shares of Lenskart, with a target price of Rs 600 apiece in its base case scenario. Goldman Sachs, meanwhile, has a ‘Buy’ rating on the shares of Lenskart, with a target price of Rs 625 apiece.

Morgan Stanley, on the other hand, is ‘Overweight’ on the shares of Lenskart, with a target price of Rs 576 apiece. Elara Capital recently initiated coverage on the shares of Lenskart with a target price of Rs 615 apiece, highlighting that an integrated ecosystem and tech agility fortify the eyewear retailer’s edge amid low competition, vast opportunity, and superior store economics.

Lenskart in May reported a nearly 46% YoY surge in revenue from operations to Rs 2,516 crore for the January-March quarter of FY26, from Rs 1,727 crore in the year-ago period, leading to bullish brokerage calls and target price hikes.

While the company reported a strong surge in revenue, its net profit declined 9% YoY to Rs 200 crore during the quarter under review, from Rs 219 crore in the corresponding quarter of the previous financial year.

For the entire financial year which ended on March 31, 2026, Lenskart reported a 32% YoY rise in revenue to Rs 9,002 crore. EBITDA climbed 55.3% YoY to Rs 1,789 crore, while adjusted PAT surged 148% YoY to Rs 530 crore.