Japanese technology investor SoftBank has sold a 1.56% stake in Lenskart Solutions for ₹1,896 crore through open-market transactions. Following the deal, SoftBank’s holding in the eyewear retailer declined to 5.71% from 7.27%.
New Delhi, November 7 — Japanese technology investor SoftBank has reduced its stake in Lenskart Solutions, selling a 1.56% holding in the eyewear retailer for approximately ₹1,896 crore through open-market transactions.
SoftBank’s affiliate SVF II Lightbulb (Cayman) Ltd sold 2.72 crore shares in 10 tranches on Friday, according to block deal data available on the BSE.
The shares were sold at an average price of ₹697.15 apiece, taking the combined transaction value to ₹1,896.24 crore.
Following the sale, SoftBank’s stake in Gurugram-based Lenskart declined to 5.71% from 7.27%.
Goldman Sachs buys shares worth over ₹640 crore
Several domestic and foreign institutional investors bought Lenskart shares sold in the transaction.
US-based Goldman Sachs emerged as the biggest buyer, purchasing 91.84 lakh shares worth more than ₹640 crore.
Domestic institutional buyers included Kotak Mahindra Mutual Fund, UTI Mutual Fund and HDFC Life Insurance Company.
Foreign investors including Societe Generale, BNP Paribas, William Blair Investment Management and several overseas retirement funds also participated in the transaction.
Despite the large block deal, Lenskart shares gained 1% to close at ₹724.70 apiece on the BSE.
SoftBank has been reducing Lenskart stake
The latest transaction is not SoftBank’s first stake sale in the eyewear company.
In June, SoftBank had divested a 3.25% stake in Lenskart for ₹2,873 crore.
Another major shareholder, Abu Dhabi Investment Authority, also reduced its exposure in September, selling a 2.01% stake worth ₹2,390 crore.
The latest transaction therefore represents another round of stake monetisation by existing investors while institutional investors continue to pick up shares in the company.
Nirma also sells Alivus Life Sciences stake
In a separate block deal, Nirma Ltd, a promoter of Alivus Life Sciences, formerly Glenmark Life Sciences, sold 28.46 lakh shares representing a 2.32% stake.
The transaction was valued at around ₹390 crore, with shares sold at an average price of ₹1,370 apiece.
Helios Mutual Fund, Bandhan Mutual Fund, Param Capital, Subhkam Ventures I and Sanshi Fund-I were among the domestic buyers.
Norway’s Government Pension Fund Global was the only foreign institutional investor mentioned as participating in the purchase.
Alivus Life Sciences shares ended nearly 2% lower at ₹1,471.90 on the NSE.
