Japanese investment giant SoftBank Group has sold a 1.56% stake in Indian eyewear retailer Lenskart Solutions for approximately ₹1,896 crore through open-market block deals, reducing its ownership in the company from 7.27% to 5.71%. The transaction took place on November 6, 2026, with SoftBank selling 2.72 crore shares through its affiliate, SVF II Lightbulb (Cayman) Ltd, at an average price of ₹697.15 per share.
US-based investment bank Goldman Sachs emerged as the largest buyer, acquiring approximately 91.84 lakh shares worth ₹640.26 crore. A group of domestic and international institutional investors purchased the remaining shares. The transaction represents another significant partial exit by an early investor in Lenskart, following earlier stake reductions by SoftBank and Abu Dhabi Investment Authority (ADIA).
SoftBank Offloads 2.72 Crore Lenskart Shares
According to block deal data on the BSE, SoftBank’s affiliate SVF II Lightbulb (Cayman) Ltd sold 2.72 crore shares of Lenskart Solutions in 10 tranches.
The shares were sold at an average price of ₹697.15 apiece, taking the total transaction value to approximately ₹1,896.24 crore.
Before the transaction, SoftBank held a 7.27% stake in Lenskart, equivalent to approximately 12.64 crore shares as of September 30, 2026. Following the sale, its ownership declined to 5.71%.
The transaction represents a partial stake reduction rather than a complete exit. SoftBank continues to hold a significant investment in the eyewear retailer.
| Transaction detail | Information |
|---|---|
| Seller | SoftBank affiliate SVF II Lightbulb |
| Company | Lenskart Solutions |
| Shares sold | 2.72 crore |
| Stake sold | 1.56% |
| Average selling price | ₹697.15 |
| Total transaction value | ₹1,896.24 crore |
| SoftBank stake before sale | 7.27% |
| SoftBank stake after sale | 5.71% |
| Transaction date | November 6, 2026 |
The sale was executed through open-market transactions, with institutional investors acquiring the shares at the same transaction price.
Goldman Sachs Leads Institutional Buying
Goldman Sachs emerged as the largest buyer in the transaction, acquiring 91.84 lakh shares worth approximately ₹640.26 crore through its investment entities.
Societe Generale ODI was another major participant, purchasing 89.44 lakh shares valued at approximately ₹623.53 crore.
Other institutional buyers included domestic mutual funds, foreign investment firms, pension funds and insurance companies.
The buyers included:
- Goldman Sachs
- Societe Generale
- Kotak Mahindra Mutual Fund
- UTI Mutual Fund
- HDFC Life Insurance Company
- BNP Paribas
- William Blair Investment Management
- Norges Bank
- Florida Retirement System
- Texas Municipal Retirement System
- Public School Teachers’ Pension and Retirement Fund of Chicago
- The Northern Trust Company
The participation of multiple institutional investors indicates that the shares attracted interest from both domestic and international market participants.
Goldman Sachs’ position as the largest buyer is particularly notable because the transaction involved a substantial investment in a recently listed Indian consumer technology company.
Lenskart Shares Sold at Nearly 4% Discount
The block deal was executed at ₹697.15 per share, representing a discount of approximately 3.8% to Lenskart’s closing price of ₹724.70 on the BSE on November 6.
Despite the large stake sale, Lenskart shares ended the trading session around 1% higher.
This distinction is important because block deals are generally negotiated transactions between large investors. A discount to the prevailing market price can help sellers execute substantial transactions without necessarily putting the entire quantity through regular market trading.
The transaction price therefore does not automatically indicate the price at which all investors would be able to buy or sell Lenskart shares in the open market.
SoftBank Continues to Reduce Its Lenskart Investment
The latest transaction follows a series of stake reductions by existing investors in Lenskart.
In June 2026, SoftBank sold a 3.25% stake in the company for approximately ₹2,873 crore.
In September 2026, Abu Dhabi Investment Authority also reduced its investment, selling a 2.01% stake worth approximately ₹2,390 crore.
The latest November transaction shows that SoftBank has continued to monetise part of its investment while retaining a 5.71% holding.
Such transactions are common in private equity and venture capital investment cycles. Early investors often sell portions of their holdings after a company lists publicly, allowing them to realise returns while maintaining exposure to potential future growth.
However, the stake sale alone does not establish SoftBank’s view of Lenskart’s future performance or indicate that the investor has lost confidence in the company.
Lenskart Reports Strong Q2 FY27 Financial Results
The block deal comes shortly after Lenskart reported strong financial results for the September quarter of FY27.
On November 4, the company reported consolidated net profit of ₹227.08 crore, representing a 122.1% increase from ₹102.22 crore in the corresponding quarter of the previous financial year.
Revenue from operations increased 35.7% year-on-year to ₹2,845.03 crore, compared with ₹2,096.14 crore in Q2 FY26.
| Financial metric | Q2 FY26 | Q2 FY27 | Growth |
|---|---|---|---|
| Revenue from operations | ₹2,096.14 crore | ₹2,845.03 crore | 35.7% |
| Consolidated net profit | ₹102.22 crore | ₹227.08 crore | 122.1% |
| Total expenses | ₹1,980.34 crore | ₹2,596.80 crore | 31.1% |
The company’s India business remained a major contributor to growth.
Revenue from operations in India increased 35.3% year-on-year to ₹1,668 crore, compared with ₹1,233 crore in the same quarter last year.
Product margin increased to ₹1,068 crore from ₹782 crore, while product margin as a percentage of revenue improved to 64%, compared with 63.4% a year earlier.
These results indicate continued business expansion, although investors will also monitor profitability, expenses and cash generation as the company grows its retail and international operations.
Why Institutional Investors Are Watching Lenskart
Lenskart has developed into one of India’s prominent organised eyewear retailers, combining physical stores with digital sales channels.
Its business includes prescription eyewear, sunglasses, contact lenses and related products. The company has also expanded internationally, giving it exposure to markets beyond India.
The organised eyewear market offers opportunities for growth as consumers increasingly seek branded products, convenient eye-testing services and technology-enabled shopping experiences.
Lenskart’s combination of online distribution and physical stores is central to its expansion strategy.
For institutional investors, the company’s growth trajectory, profitability improvements and ability to expand internationally are important factors when evaluating its long-term potential.
The latest block deal also provides an opportunity for new institutional shareholders to gain exposure to the company through a large secondary-market transaction.
The Bigger Picture
SoftBank’s latest Lenskart stake sale highlights the continuing movement of shares from early-stage investors into institutional ownership after a company enters public markets. The transaction also demonstrates that large investment funds can monetise part of their holdings without completely exiting a company.
For Lenskart, the deal comes at a time when its financial performance is showing strong year-on-year growth. However, the company’s future valuation will depend on whether it can sustain revenue expansion, improve profitability and successfully compete in India’s evolving eyewear market.
The participation of Goldman Sachs, Societe Generale and several domestic institutional investors shows that the transaction attracted significant institutional interest. Nevertheless, a large block purchase should not be interpreted as a guaranteed indication of future share-price performance.
Looking Ahead
Investors will continue monitoring changes in Lenskart’s shareholding, particularly whether SoftBank makes additional partial exits or maintains its remaining 5.71% stake. The company’s upcoming quarterly results will also be important in determining whether its recent revenue and profit growth can be sustained.
For the Indian stock market, the transaction reflects the continued role of institutional investors in absorbing large shareholdings released by early-stage and private equity investors. Lenskart’s ability to convert its expanding retail presence into consistent earnings growth will remain a key factor shaping investor sentiment.
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