SoftBank sells Lenskart stake worth $350 million
SoftBank has sold a significant portion of its stake in Indian eyewear retailer Lenskart for approximately $350 million. The sale occurred through block deals.
Global investment firm SoftBank has divested a substantial stake in Indian eyewear unicorn Lenskart, generating approximately $350 million through block deals. The sale involved 45 million shares, offloaded by SoftBank Vision Fund (SVF) II Lightbulb (Cayman) Ltd.
The shares were sold at an average price of ₹641.75 apiece, representing a 3% discount to Lenskart's previous closing price. This marks SoftBank's second major partial exit from Lenskart since the company's public listing. In June, SoftBank had already sold shares worth approximately $345 million.
Societe Generale emerged as the largest buyer, acquiring 11 million shares. Goldman Sachs and Motilal Oswal Mutual Fund were also among the significant purchasers. The transaction occurs amidst a strong upward trend in Lenskart's stock performance following its November 2023 IPO. The stock has surged over 69% from its listing price.
Lenskart has demonstrated improved financial performance, achieving its first full-year profitability in FY25 and more than doubling its net profit to ₹530 crore in FY26 on revenues of ₹9,002.3 crore. The company has also announced investments to expand its international operations in Asia.
The stake sale by SoftBank comes shortly after Lenskart reported a cyber incident that affected a sub-vendor of its Singapore-based group company.