Lenskart Solutions Ltd witnessed a major block deal on Thursday, with approximately 4 crore shares, equivalent to 2.3 percent of the company's equity, being traded in a transaction valued at around Rs 1,960 crore.

The shares were sold at Rs 490 apiece, representing a discount of about 2.1 percent to the previous session's closing price of Rs 500.50. While the identities of the buyer and seller were not officially disclosed, media reports had indicated that Platinum Jasmine A 2018 Trust was expected to divest a 2.3 percent stake through a block deal with a floor price of Rs 486 per share. The report also stated that the seller's remaining stake would be subject to a 90-day lock-up period following the transaction.

Lenskart ended Wednesday's trading session with a market capitalization exceeding Rs 87,000 crore. Since its stock market debut in November 2025, the company's shares have gained approximately 24.5 percent over the IPO issue price of Rs 402 per share.

The stake sale comes shortly after brokerage firm Macquarie reaffirmed its Outperform rating on the stock and increased its target price to Rs 600 per share, citing sustained growth momentum, improving profitability, and strong international business performance. The revised target suggests potential upside from current market levels.

For the quarter ended March 2026, Lenskart reported revenue growth of 45.6 percent year-on-year to Rs 2,515.7 crore compared with Rs 1,727.5 crore in the corresponding period last year. EBITDA rose 84 percent to Rs 538.4 crore, while EBITDA margin expanded to 21.4 percent from 16.9 percent a year earlier.

Net profit, however, declined 8.6 percent year-on-year to Rs 200 crore from Rs 218.8 crore in the same quarter last year.

Lenskart operates an omnichannel eyewear business offering prescription glasses, sunglasses, and contact lenses through its online platform and extensive retail store network across India and international markets.