Shares of India’s largest eyewear company, Lenskart Solutions, will be in focus heading into trade on Monday after a block deal was launched in the company, according to multiple media reports.
SoftBank Vision Fund (SVF) II Lightbulb Cayman is likely to sell up to a 2.6% stake in Lenskart Solutions for approximately $300 million, sources said. The floor price for the deal has been fixed at Rs 635 per share, representing a 4% discount to the stock’s previous close of Rs 661.4.
The selling shareholder will be subject to a 45-day lock-up period for any residual stake sale, a CNBC TV-18 report stated.
As of the end of the June quarter, promoter entities held an 18% stake in Lenskart Solutions, while public shareholders owned 82%. SVF II Lightbulb (Cayman) Ltd held a 9.86% stake in the company, according to data available on the stock exchanges.
Also read: Lenskart shares in focus as Goldman Sachs, Morgan Stanley, others purchase stake in Rs 1,960 crore block deal
Earlier this month, Lenskart Solutions reported a 182.3% year-on-year (YoY) increase in net profit to Rs 228 crore for the first quarter of FY27. Revenue from operations grew 33.6% YoY to Rs 2,214 crore, while earnings before interest, taxes, depreciation and amortization (EBITDA) rose 61.3% YoY to Rs 589 crore.
The eyecare services provider said growth was broad-based, with revenue from India increasing 30.7% YoY and international revenue rising 38%.
Consolidated product margin crossed 70% for the first time, reaching 70.3% in Q1 FY27 compared with 68.7% a year earlier. EBITDA margin also improved to 21.7% from 18.0%. India operations recorded an EBITDA margin of 21.4%, while the margin for international operations stood at 21.9%.
Buy, sell or hold Lenskart shares?
Jefferies has maintained a Buy rating on Lenskart and raised its target price to Rs 680 from Rs 600, saying Q1FY27 further strengthens the company’s growth and margin expansion story. The brokerage said market creation remains a key priority, with supply rather than demand emerging as a constraint in India, as reflected by around 70,000 daily eye tests. Lenskart has also strengthened its presence at the lower end with a fully loaded Rs 500 product, while a clear premiumisation trend is emerging. Jefferies believes improving margins in the international business should address a key investor concern, while it sees potential for Meller to become the “Ray-Ban of the future.”
Read more: Lenskart’s Meller sunglasses are Ray-Ban of the future, says Jefferies. Here’s why
Morgan Stanley has an Overweight rating on Lenskart with a target price of Rs 666, saying the company delivered another quarter of strong performance in Q1, with the beat driven largely by the international business. Strong performance, optimistic management commentary and higher earnings estimates support its expectation of continued stock outperformance.
Goldman Sachs has an Accumulate rating on Lenskart and raised its target price to Rs 715, saying the growth and margin flywheel continues to deliver. The brokerage highlighted significant margin expansion in the international business as SSSG remains elevated, while India’s business continues to see volume-led revenue growth and operating leverage-driven margin expansion. Goldman Sachs also identified premiumisation as a new growth vector for the company.
