Lenskart Investors Sell $450M Shares Post IPO Lock-In

Lenskart’s existing investors have divested shares valued at a minimum of ₹3,861.1 crore (approximately $450 million) following the expiry of the company’s six-month Initial Public Offering (IPO) lock-in period. The significant sell-off occurred through multiple block deals yesterday.

Data from the National Stock Exchange (NSE) indicates that over 8.15 crore shares were traded at ₹473.4 per share. Among the major sellers were Alpha Wave Ventures, which offloaded 3.72 crore shares, and BirdsEye Holdings and TR Capital, which sold approximately 1.67 crore and 80.3 lakh shares, respectively.

The shares were acquired by a consortium of institutional buyers, including Citigroup, BlackRock, BofA Securities, Canara Robeco Mutual Fund, Fidelity, ICICI Prudential, HDFC Mutual Fund, and Goldman Sachs.

These block deals were executed at a discount of 3.7% compared to Lenskart’s closing price of ₹492 on the BSE on Thursday. With the expiration of the lock-in, an estimated 104.7 crore Lenskart shares became available for trading.

Despite the substantial sell-off, Lenskart’s stock experienced upward movement, closing 0.31% higher at ₹489.5 on the BSE. This follows the omnichannel eyewear retailer’s debut in November 2025, where it listed slightly below its issue price.

Lenskart’s IPO, which raised ₹7,278 crore, was oversubscribed 28.26 times. Since its listing, the stock has seen a notable surge of nearly 22% from its issue price, reaching a high of ₹559.80 on the BSE.

Founded in 2010, Lenskart operates in India, the UAE, Singapore, and Japan, boasting 3,144 stores and a customer base of 20 million. The company reported a consolidated profit after tax (PAT) of ₹132.7 crore in Q3 FY26, a substantial increase from ₹1.9 crore in the prior year, with operating revenue growing 38% year-on-year to ₹2,307.7 crore.