SoftBank pares nearly 2.6% stake in Lenskart for Rs 2,888 Cr
In the latest transaction, SoftBank Group, through its affiliate SVF II Lightbulb (Cayman) Ltd, offloaded 4.5 crore equity shares in 22 tranches, amounting to a 2.58% stake in Lenskart.
Technology investor SoftBank Group has once again trimmed its holding in Lenskart Solutions, selling nearly a 2.6% stake in the eyewear retailer for Rs 2,888 crore through open market transactions on Monday.
In June, SoftBank sold a 3.25% stake in Lenskart for Rs 2,873 crore.
In the latest transaction, Japan-based SoftBank Group, through its affiliate SVF II Lightbulb (Cayman) Ltd, offloaded 4.5 crore equity shares in 22 tranches, amounting to a 2.58% stake in Gurugram-based Lenskart, as per block deal data on the BSE.
The shares were sold at an average price of Rs 641.75 apiece, taking the combined deal size to Rs 2,887.87 crore.
The latest transaction brought SoftBank's holding in Lenskart down to 7.28% from 9.86%, although it remains the second-largest public shareholder in the eyewear firm.
Platinum Jasmine A 2018 Trust, an arm of Abu Dhabi Investment Authority, remains the largest public shareholder of Lenskart with a 9.77% stake.
The block deal saw participation from a wide range of institutional investors.
Domestic buyers included National Pension System Trust and mutual funds managed by SBI, Edelweiss, Nippon India, Franklin Templeton, HDFC, HSBC, ICICI Prudential, Motilal Oswal and Sundaram. ICICI Prudential Life Insurance was also among the buyers.
Among foreign investors, financial services company Societe Generale picked up the most shares, acquiring 1,07,35,000 shares, representing a 0.62% stake.
The shares were bought at the same price, making the transaction worth Rs 688.91 crore.
Other foreign investors that lapped up shares of Lenskart included Ghisallo Capital Management, Goldman Sachs, Morgan Stanley, BNP Paribas Financial Markets, Vanguard, Wasatch Global Investors, and Integrated Core Strategies Asia.
Other buyers included Frankfurt-based Universal Investment, the Teachers' Retirement System of the State of Illinois, the Pennsylvania Public School Employees' Retirement System, and the Kuwait Investment Authority.
Shares of Lenskart Solutions fell 0.28% to close at Rs 659.70 apiece on the BSE.