SoftBank sells 3.25% Lenskart stake for ₹2,873 cr

What happened in the Lenskart block deal

SoftBank Group divested a 3.25% stake in eyewear company Lenskart Solutions through an open market transaction executed in the block deal window on the National Stock Exchange (NSE). The deal size was ₹2,873.30 crore, based on block deal data cited in multiple reports. The sale was carried out via SoftBank’s affiliate SVF II Lightbulb (Cayman) Ltd.

The transaction stood out for both its size and the breadth of institutional participation on the buy side. After the deal, Lenskart Solutions’ shares ended the day lower on the NSE, reflecting the short-term supply impact of a large secondary sale.

Who sold the shares and how much

According to NSE block deal data, SVF II Lightbulb (Cayman) Ltd sold 5,65,00,000 equity shares of Lenskart Solutions. This quantity is also reported as 5.65 crore shares and represented 3.25% of the company’s equity. The shares were sold at an average price of ₹508.55 per share.

The reported deal value was ₹2,873.30 crore. Another market update cited a similar per-share level of about ₹508.50 for the block window prints, consistent with the disclosed average selling price. The sale was attributed to SoftBank’s investment vehicle, which has been one of the better-known financial backers of the company.

SoftBank’s holding drops from 13.13% to 9.88%

Following the divestment, SoftBank’s holding in Lenskart Solutions fell to 9.88% from 13.13%, as reported. This change reflects the impact of the 3.25% stake sale executed through its affiliate.

One report also noted that as of March 2026, SVF II Lightbulb (Cayman) held a 13.13% stake and was the largest public shareholder before this transaction. The same report said the holding entity owned 22.79 crore shares at the end of March, and that the latest sale represented about 25% of that March-quarter shareholding.

Buyers include mutual funds, global banks, and insurers

A broad group of domestic and foreign institutional investors participated on the buy side of the block deal, according to reported transaction details. Buyers named across the reports included WhiteOak Capital Mutual Fund, Mirae Asset MF, Kotak MF, Canara Robeco MF, ICICI Prudential MF, HDFC Life Insurance Company, ICICI Prudential Life Insurance, Societe Generale, Metzler Asset Management, Goldman Sachs, Fidelity, Copthall Mauritius Investment, International Monetary Fund, and Dendana Investments (Mauritius) Ltd.

Another update expanded the list of participants to include Manulife Singapore, Wasatch Emerging Markets, Quant Mutual Fund, North Rock SG VCC, Ashoka India Equity Investment Trust, and BNP Paribas Financial Markets, among others. The large and diversified buyer set suggests the stake sale was absorbed by multiple pools of capital rather than concentrated with a single investor.

Largest disclosed buyers in the block deal

One market report identified Goldman Sachs Bank Europe as the largest buyer in the transaction. It said Goldman acquired 1.37 crore Lenskart shares for ₹701.47 crore. The same report said Societe Generale - ODI also bought 1.37 crore shares for ₹698.44 crore.

These two allocations highlight how the block was split among multiple institutions. However, the overall transaction involved a longer list of participants, with allocations spread across mutual funds, insurers, and offshore investment vehicles.

How Lenskart shares reacted on the NSE

After the stake sale, Lenskart Solutions’ shares slipped 1.58% to close at ₹515.90 on the NSE, as reported. Another market update said the stock fell to about ₹518 in the morning trade, down around 1.2% on the day at that point.

While day-to-day price moves can reflect multiple factors, large block deals typically add near-term supply and can weigh on sentiment, particularly when a prominent shareholder reduces exposure. The close, however, still remained above the block deal average price of ₹508.55 per share.

Key deal details at a glance

Market impact: what the numbers indicate

For investors, the primary data points were the size of the sale (3.25% equity) and the price discovery in the block window at ₹508.55 per share. The close at ₹515.90, despite a 1.58% fall, suggested buyers were still willing to pay above the block price in the normal trading session.

The transaction also showed continued institutional interest in Lenskart Solutions, given that a wide set of mutual funds, global banks, and long-only investors appeared among the buyers listed in reports. From a liquidity perspective, the sale redistributed ownership from a single large shareholder to a broader group, potentially improving free-float availability in secondary trading.

Why this transaction matters

SoftBank’s partial exit reduces its exposure while keeping a meaningful stake at 9.88%. The deal also highlights how large shareholders can use the block deal mechanism for sizeable secondary sales without disrupting the market through repeated open-market trades.

The breadth of participation matters because it signals that the block was placed across multiple investors rather than relying on one anchor buyer. That can lower execution risk in large deals, and it may reduce the overhang perception that can build when markets expect additional supply from a single shareholder.

Conclusion

SoftBank, via SVF II Lightbulb (Cayman) Ltd, sold 5.65 crore Lenskart Solutions shares in an NSE block deal worth ₹2,873.30 crore, cutting its stake from 13.13% to 9.88%. Lenskart shares closed 1.58% lower at ₹515.90 after the transaction.

The next market focus is likely to remain on any further changes in large-shareholder holdings, and whether additional block trades emerge, given the scale of institutional participation seen in this deal.