Lenskart shares fall 3% after big block deal, IPO lock-in expiry worth Rs 51,000 crore

The shares of Lenskart Solutions tumbled 3% to their day’s low of Rs 474 on the BSE on Friday after a major block deal involving 6.46% equity or 11.22 crore shares worth Rs 5,315.60 crore took place on the bourses.

The deal was executed at Rs 473 per share, a discount of 3% from the previous closing price of Rs 488 on the BSE.

Further, the pressure also stems from its IPO lock-in expiry as 104.7 crore shares worth Rs 51,000 crore became eligible for trade, according to a report by domestic brokerage Nuvama Institutional Equities.


However, it is important to note that this does not imply that all these shares will necessarily be offloaded in the market immediately. The expiry of the lock-in period simply means that shareholders can now trade these shares. At the previous closing price of Rs 488 apiece, the said number of shares freeing up for trade today is worth more than Rs 51,113 crore.

Lenskart share price

The shares of the popular eyewear retailer made a muted market debut in November last year, listing at a discount of nearly 3% over the IPO price at Rs 390 apiece on BSE. After the muted listing, the shares declined nearly 9% in the same month to hit a record low of Rs 355.70 apiece.

Lenskart shares have sharply recovered since then, gaining more than 57% to hit an all-time high of Rs 559.80 apiece in April this year. The stock has now declined 13% since then, with the selloff being partly driven by the recent online backlash on social media regarding its alleged restrictions on religious symbols in its in-store dress code.

Lenskart later issued a public apology and released a standardised 'In-Store Style Guide' that allows employees to wear religious and cultural symbols at work. The new policy "explicitly and unambiguously" welcomes all symbols of faith carried by team members, including the bindi, tilak, sindoor, kalawa, mangalsutra, kada, hijab, and turban.

Lenskart earnings snapshot

Lenskart in February reported a whopping 6,983% year-on-year (YoY) surge in its consolidated net profit to Rs 131.02 crore for Q3 FY26 from Rs 1.85 crore reported in the year-ago period. The company's revenue from operations stood at Rs 2,308 crore in Q3FY26, up 38% over Rs 1,669 crore posted in the corresponding period of the last financial year.

The Gurugram headquartered eyewear company will release its results for Q4 FY26 on May 20.

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