Shares of Lenskart Solutions dropped more than 3% on Monday after over 3 crore shares reportedly changed hands in a block deal, with Platinum Jasmine likely being the seller.
Lenskart shares dropped to Rs 683 apiece on the NSE on Monday morning, snapping a two-session gaining streak. Shares of the popular eyewear retailer have overall gained more than 58% in 2026 so far.
Lenskart block deal
Around 3.53 crore shares, or a 2% stake in Lenskart Solutions, changed hands in a block deal on Monday, ET Now reported. While the buyers and sellers are yet to be officially confirmed, Platinum Jasmine was reportedly set to divest up to 3 crore shares, or around 1.7% of the company's equity.
The block deal was estimated to be worth more than Rs 2,047 crore, with Platinum Jasmine likely selling the shares at Rs 682.45 apiece. This represents a discount of over 3% to Lenskart Solutions' previous closing price. Platinum Jasmine held nearly a 10% stake in Lenskart at the end of the April-June quarter of FY27, according to the company's shareholding pattern data.
Also read | Lenskart block deal: Rs 2,047 crore stake sale likely; Platinum Jasmine may offload 1.7% holding
Lenskart share price
This comes after a sharp rally in Lenskart shares following a weak post-listing performance. The stock debuted on the stock market in November 2025 after raising Rs 7,278 crore through a combination of a fresh issue and an offer for sale by promoters and existing investors. The company's shares listed at Rs 395 per share on the NSE, representing a 1.75% discount to the issue price of Rs 402. On the BSE, the shares opened at Rs 390, a 3% discount to the issue price.
The shares have gained around 5% in one month and 2% in a week. The company currently commands a market capitalisation of over Rs 1.2 lakh crore.
Nomura on Lenskart share price
Last month, Nomura initiated coverage on the eyewear retailer with a Buy call and a target price of Rs 888 per share, noting that Lenskart has transformed from a challenger into a market leader. The international brokerage highlighted that Lenskart has a long runway of over 10,000 planned stores, with only 27% of that potential tapped so far. It noted that the company holds a 5% market share, double that of the second-largest player, in India's highly fragmented and unorganised prescription eyewear segment.
It has created a strong moat alongside a scalable and profitable business model with end-to-end vertical integration from centralised manufacturing to retailing and AI-enabled operations, resulting in a cost structure that is 35-40% lower than the industry average, Nomura said.
Also read | Lenskart shares to rally 40%? Nomura initiates coverage with Buy, says its growth journey has just started
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