Lenskart Shares Slide 2.83% as Block Deal Triggers Lock-In Exit
Shares of Lenskart Solutions Limited came under sharp selling pressure on 8 May after a massive block deal executed at a discount rattled sentiment in the newly listed eyewear retailer. The stock hit a day low of Rs 473.40 on the NSE as sellers hit the market from the opening... The post Lenskart Shares Slide 2.83% as Block Deal Triggers Lock-In Exit appeared first on Equitypandit.
Shares of Lenskart Solutions Limited came under sharp selling pressure on 8 May after a massive block deal executed at a discount rattled sentiment in the newly listed eyewear retailer. The stock hit a day low of Rs 473.40 on the NSE as sellers hit the market from the opening bell.
As many as 11.22 crore shares, representing 6.46% equity in the company, changed hands in block deals worth around Rs 5,313.58 crore at Rs 473.40 per share, a 2.94% discount to Thursday’s closing price. Sellers in the transaction included Birdseye View Holding, TR Capital Mauritius, ABG Capital and Kariba Holdings. Alpha Wave participated but remains subject to a 90-day lock-in on any further sale.
The deal size was raised from an initial Rs 3,293 crore to around Rs 5,650 crore on the back of strong investor demand, with an upsize option included in the transaction structure. The sell-off coincides directly with Lenskart’s six-month IPO lock-in expiry. Around 1,047.4 million shares — nearly 60% of total outstanding equity — became eligible for trading on 8 May, representing roughly Rs 54,150 crore in unlocked value.
Lock-in expiry does not compel selling, but it opens the door for early backers to exit positions. Lenskart trades around 29% above its IPO issue price of Rs 402, giving investors sitting on gains a clear economic incentive to crystallise returns. The stock had already shed around 7% across the five sessions leading into Friday, reflecting market anticipation of the unlock.
At 10:24 am on 8 May, shares of Lenskart Solutions were trading up by 0.56% at Rs 490.50 on the NSE, recovering from the morning low as buyers stepped in once the block deal window closed.
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The post Lenskart Shares Slide 2.83% as Block Deal Triggers Lock-In Exit appeared first on Equitypandit.
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