Shares of the D2C eyewear giant climbed more than 2% on NSE even as early investors made a large-scale exit through the block deal window

Shares of Lenskart Solutions were back in the spotlight on Friday, May 8, 2026, after a massive Lenskart block deal executed during early morning trading hours drew significant market attention. Despite the scale of the secondary sale, the stock showed resilience — rising over 2% to trade at ₹498.10 per share on the National Stock Exchange.

The Block Deal: What Happened

According to a report by CNBC-TV18, as many as 11.22 crore shares — representing approximately 6.46% of the company’s total equity — changed hands in the block deal window at a price of ₹473.4 per share. The total value of the trade stood at approximately ₹5,315.6 crore.

The deal had been signalled the previous evening, when CNBC-TV18 reported that certain existing investors were planning a large-scale clean-out trade. Initially, the proposed transaction was structured around the sale of up to 70.2 million shares valued at approximately $350 million. However, the deal size was later reportedly scaled up to around $600 million, or roughly ₹5,650 crore, amid strong investor demand. The transaction also reportedly includes an upsize option to accommodate any additional demand.

The floor price for the block deal was pegged at ₹470 per share, reflecting a discount of approximately 3.6% to Thursday’s closing price of ₹492.4.

Who Sold and Who Stayed

Among the investors participating in the Lenskart block deal, Birdseye View Holdings, TR Capital Mauritius, ABG Capital, and Kariba Holdings were reported to be fully exiting their respective positions in the company. Another investor, Alpha Wave, also participated in the block deal — but with a key condition: the firm will remain under a 90-day lock-in period for any further stake sale.

The Lock-In Clock Runs Out

Friday’s trade was also significant from a structural standpoint. The mandatory six-month lock-in period applicable to a large pool of Lenskart shares came to an end on May 8, 2026. With the expiry, as many as 1,047.4 million shares — equivalent to nearly 60% of the company’s total outstanding equity — became eligible for trading in the open market. This event had been closely watched by analysts and investors as a potential trigger for increased selling pressure.

Revisiting Lenskart’s Market Debut

Lenskart Solutions made its stock market debut in November 2025, but the launch was far from smooth. The eyewear company’s shares listed at ₹390 on the BSE — a decline of nearly 3% from the IPO issue price of ₹402. At one point during its listing day, the stock fell as steep as 11.52%, touching ₹355.70, before clawing back to trade around ₹403.80 — marginally above the issue price.

On the NSE, the listing was similarly weak, with the stock opening at ₹395, slipping over 11% to ₹356.10 at its lowest point, before recovering to approximately ₹404.

The ₹7,278 crore IPO was offered in a price band of ₹382 to ₹402 per share. Despite the rocky listing, the offering had received strong demand — the issue was subscribed 28.26 times on the final day, driven largely by institutional investors. The IPO comprised a fresh issue of ₹2,150 crore alongside an Offer-for-Sale (OFS) of 12.75 crore equity shares from existing promoters and investors.

Lenskart had stated plans to deploy the fresh issue proceeds toward expanding its network of company-operated, company-owned (CoCo) stores across India, as well as towards lease, rent, and licensing payments related to those stores.

Market Takeaway

The fact that Lenskart shares traded notably higher even after a block deal of this magnitude suggests that buyer interest in the stock remained intact — at least in the short term. Whether the unlocking of 60% of the outstanding equity creates sustained downward pressure in the weeks ahead remains to be seen, as more early backers may use the freed window to reassess their positions.