Shares of eyewear retailer Lenskart declined nearly 3% in opening trade on Friday amid reports that a consortium of existing investors is preparing to offload shares worth nearly ₹5,650 crore through block deals.

TThe timing of the transaction coincides with the expiry of Lenskart’s six-month post-IPO lock-in period today, unlocking a significant portion of the company’s equity for trading.

According to estimates by Nuvama Alternative & Quantitative Research, nearly 104.74 crore shares worth around ₹51,113 crore based on Thursday’s closing price, representing about 60% of the company’s outstanding equity, will become eligible for trading after the lock-in expiry.

Amid heavy trading volumes, Lenskart shares fell as much as 2.94% to ₹473.65 on the BSE, while the company’s market capitalisation declined to ₹82,948 crore. Around 22.65 lakh shares changed hands on the counter, compared with the two-week average trading volume of 1.84 lakh shares.

Led by CEO Peyush Bansal, Lenskart made its stock market debut on November 10, 2025. The stock currently trades nearly 18% above its initial public offering (IPO) price of ₹402.

The new-age stock touched a high of ₹559.80 on April 15, 2026, and a 52-week low of ₹355.70 on November 10, 2025. The counter has delivered an 8% return to shareholders so far in calendar year 2026, although it has declined 5% over the past month.

Block deal floor price set at ₹470

The floor price for the proposed block deal has reportedly been fixed at ₹470 per share, reflecting a discount of nearly 3.7% to Thursday’s closing price of ₹488 on the BSE.

According to reports, existing shareholders including Birdseye View Holding, TR Capital Mauritius, ABG Capital, and Kariba Holdings are likely to participate in the block deal.

The board of Lenskart is scheduled to meet on May 20 to consider and approve its financial results for the year ended March 31, 2026.

For the third quarter ended December 2025, the company reported a consolidated net profit of ₹131.03 crore, compared with ₹1.85 crore in the corresponding quarter of the previous fiscal year. The sharp rise in profitability was supported by a robust 38.3% year-on-year increase in revenue from operations, which rose to ₹2,307.73 crore from ₹1,668.84 crore in Q3 FY25.

The company’s operational performance also strengthened during the quarter. EBITDA surged 118.8% year-on-year to ₹464.13 crore, while EBITDA margins expanded to 20% from 12.7% in the year-ago period.

During the December quarter, Lenskart added 195 net new stores, 169 in India and 26 internationally , taking its total store additions for the first nine months of FY26 to 420.