BNP Paribas, Societe Generale, Millennium Sell Lenskart Shares Worth ₹2,670 Cr
Financial giants BNP Paribas, Societe Generale, and Millennium Management have sold shares in Lenskart for a combined ₹2,670.2 crore through multiple block deals, according to exchange data.
Major financial institutions BNP Paribas and Societe Generale, along with US-based hedge fund Millennium Management, have divested stakes in eyewear retailer Lenskart for a total of ₹2,670.2 crore via several large block deals.
Data from the National Stock Exchange (NSE) indicates that BNP Paribas Financial Markets sold 13 million Lenskart shares at ₹662.22 each, generating ₹855 crore. Societe Generale offloaded 14 million shares at ₹661.5 apiece, raising ₹930.8 crore. Millennium Management, through its affiliate Integrated Core Strategies (Asia) Pte Ltd, sold nearly 14 million shares at ₹661.15 each, realizing ₹893.3 crore.
Among the buyers, asset manager BlackRock acquired a significant portion, purchasing 28.3 million shares for ₹1,876.3 crore at ₹662.63 per share. These sales come as Lenskart, alongside Groww, was added to the MSCI Global Standard Index.
The substantial stake sales suggest investors are capitalizing on a recent surge in Lenskart's stock price. The company's shares have climbed 26.5% in the past three months and 46.9% year-to-date. Strong first-quarter financial results, including a 273% net profit increase and a 43% rise in revenue, have supported the stock's performance and led analysts to revise their price targets upwards.