SoftBank sells 1.56% Lenskart stake for ₹1,896 crore
SoftBank sold a 1.56% stake in Lenskart for about ₹1,896 crore in open-market deals, cutting its holding to 5.71%.
SoftBank, through its affiliate SVF II Lightbulb (Cayman) Ltd, sold a 1.56% stake in Lenskart Solutions for about ₹1,896 crore through open-market transactions on Friday. The affiliate sold 2.72 crore shares in 10 tranches, according to BSE block deal data.
The shares went at an average price of ₹697.15 apiece, for a combined value of ₹1,896.24 crore. SoftBank’s holding in Lenskart fell to 5.71% from 7.27%.
Goldman Sachs was the biggest buyer, taking 91.84 lakh shares worth more than ₹640 crore. Kotak Mahindra Mutual Fund, UTI Mutual Fund and HDFC Life Insurance Company were among the domestic institutional buyers, while Societe Generale, BNP Paribas, William Blair Investment Management and several overseas retirement funds also took part.
Lenskart shares gained 1% to close at ₹724.70 on the BSE.
Lenskart Solutions is a Gurugram-based eyewear retailer. SoftBank is the Japanese technology investor that has been reducing its stake in the company.
This is not SoftBank’s first sale in the company. In June it divested a 3.25% stake in Lenskart for ₹2,873 crore.
Abu Dhabi Investment Authority, another major shareholder, sold a 2.01% stake worth ₹2,390 crore in September.
The latest transaction represents another round of stake monetisation by existing investors, while institutional investors continue to pick up shares in the company.
