SoftBank pares nearly 2.6% stake in Lenskart for Rs 2,888 Cr

SoftBank Group has reduced its ownership in eyewear retailer Lenskart Solutions, disposing of nearly a 2.6% stake for Rs 2,888 crore through open market sales on Monday. This follows a similar transaction in June where SoftBank sold a 3.25% stake for Rs 2,873 crore. Japan-based SoftBank Group, via SVF II Lightbulb (Cayman) Ltd, offloaded 4.5 crore equity shares in 22 tranches, reducing its stake in Gurugram-based Lenskart from 9.86% to 7.28%.

The shares were sold at an average price of Rs 641.75 each, with the total deal value reaching Rs 2,887.87 crore. The remaining 7.28% stake in Lenskart is now held by SoftBank, making it the second-largest public shareholder after Platinum Jasmine A 2018 Trust, which owns 9.77%. The block deal attracted participation from various institutional investors, including National Pension System Trust, SBI mutual funds, and foreign investors like Societe Generale, Goldman Sachs, and Morgan Stanley. Lenskart's stock price fell 0.28% to close at Rs 659.70 on the BSE following the transaction.