SoftBank divests Lenskart stake worth ₹1,896 crore in block deal

SoftBank Group has reduced its stake in Lenskart, India's leading online eyewear platform, through a strategic block sale completed on Friday. The investment firm, acting through its affiliate SVF II Lightbulb (Cayman) Ltd, divested approximately 2.72 crore shares across 10 tranches, realizing a total value of ₹1,896 crore at an average price of ₹697.15 per share.

The share sale was executed as a structured placement, with Goldman Sachs anchoring the transaction as the primary buyer. The multi-tranche approach allowed for efficient price discovery and market absorption of the substantial shareholding, reflecting standard practice for large block disposals in Indian equities markets.

This divestment marks a partial exit for SoftBank from Lenskart, which has established itself as a dominant player in India's rapidly expanding online optical retail sector. The move comes as the investment firm continues to actively manage its portfolio across its various funds, balancing exposure across portfolio companies in the region.

Lenskart has witnessed significant growth in recent years, capitalizing on India's digital transformation and rising consumer preference for online eyewear purchases. The company operates across multiple segments including prescription eyewear, sunglasses, and contact lenses, serving millions of customers through its digital platform.