Goldman Sachs, Morgan Stanley and others purchase stake in Rs 1,960 crore Lenskart block deal
The sale was executed at a reduction of about 2% to Lenskart’s earlier closing value of Rs 500.15.
The block attracted robust curiosity from a variety of home and world institutional buyers. Among the many greatest patrons had been Kotak Mahindra Mutual Fundwhich acquired over 1.2 crore shares, Canara Robeco Mutual Fund with 32.2 lakh shares, Franklin Templeton Mutual Fund with 22.4 lakh shares, and Mirae Asset Mutual Fund, which bought 22 lakh shares.
Insurance coverage corporations and pension funds additionally participated actively. ICICI Prudential Life Insurance coverage, HDFC LifeKotak Mahindra Life Insurance coverage, and the Nationwide Pension System (NPS) Belief had been among the many patrons.
Overseas buyers together with Morgan Stanley Asia, Goldman Sachs Investments, Viridian Asia Alternatives, Built-in Core Methods (Asia) and Ghisallo Grasp Fund additionally picked up shares within the transaction.
The newest sale comes lower than per week after one other main shareholder exit in Lenskart. Earlier this month, SoftBank affiliate SVF II Lightbulb (Cayman) bought 5.65 crore shares at Rs 508.55 apiece by a block deal value round Rs 2,873 crore.
Brokerages stay constructive on the corporate’s long-term prospects. Elara Capital not too long ago initiated protection with a “Purchase” score and a goal value of Rs 615, implying upside from present ranges.The brokerage highlighted Lenskart’s built-in enterprise mannequin spanning eye testing, manufacturing, distribution and retail. It estimates the corporate can ship a 25% income CAGR and 38% EBITDA CAGR between FY26 and FY29.
Lenskart operates greater than 600 shops globally and has expanded internationally by acquisitions reminiscent of Owndays and Meller. Worldwide operations account for round 42% of income, whereas its technology-led imaginative and prescient care platform and backward-integrated manufacturing capabilities have helped it emerge as one among India’s largest eyewear retailers.
