Singapore's sovereign wealth fund Temasek has sold a 2.05% stake in Lenskart Solutions Ltd worth approximately ₹1,940 crore through multiple open-market transactions on 10 July. The transaction was executed through its wholly owned subsidiary MacRitchie Investments Pte, reducing Temasek's direct holding in the eyewear retailer to 2.21% from 4.26%. As reported by Lenskart's July 14 exchange filing, the Singapore-based investor divested 3.56 crore shares based on the company's closing price of ₹544 on that day. The subsidiary now holds 8.24 crore shares of Lenskart, while Temasek continues to maintain an aggregate 4.75% interest in the company through MacRitchie Investments and affiliated entities Jongsong Investments and V-Sciences Investments.
July's stake sale follows a series of secondary-market transactions in Lenskart over the past two months. According to Mint, Abu Dhabi's sovereign wealth fund launched a secondary share sale on 10 June to raise up to ₹1,944 crore. Earlier on 3 June, a SoftBank entity sold a 3.25% stake through a block deal worth ₹2,873 crore. Before that, multiple block deals on 8 May saw investors including TR Capital, KKR-backed Birdseye View Holdings, Alpha Wave Ventures and ABG Capital divest a combined 6.46% stake for ₹5,314 crore at ₹473.4 per share. Since May, marquee investors including KKR, Alpha Wave, SoftBank, ADIA and TR Capital have collectively sold shares worth more than ₹10,000 crore through block and bulk deals, as reported by Mint.
Temasek first invested in Lenskart in July 2021, leading a $220 million funding round alongside Falcon Edge Capital (now Alpha Wave Global). As reported by Mint, the funding round valued the eyewear retailer at $2.5 billion. This marks Temasek's second $200 million listed Indian equity transaction this month, following a 2.4% stake sale in PB Fintech on 3 July that raised approximately the same amount. The latest transaction places Temasek alongside SoftBank and ADIA among the prominent Lenskart shareholders that have recently converted part of their holdings into cash.
In Q4 FY26, Lenskart's operating revenue zoomed 46% year-on-year and 9% quarter-on-quarter to ₹2,516 crore, according to Mint. The company posted a profit of ₹204 crore during the quarter. Founded by Peyush Bansal, Amit Chaudhary and Sumeet Kapahi, Lenskart operates through both online and offline channels with thousands of stores across India and international markets. The company manufactures eyewear through its in-house facilities and has been trading at around ₹538.90 at noon on July 14. Lenskart's market capitalisation stood at approximately ₹93,639 crore, equivalent to about $9.85 billion. Despite the mixed financial results, institutional demand has remained robust for the company, with a large portion of the stock sold by early investors being absorbed by domestic mutual funds, while global investors such as BlackRock and Bank of America increased their exposure to Lenskart in the June quarter.
According to Mint, as India's primary markets prepare for a fresh wave of large IPOs, secondary markets are increasingly providing institutional investors with liquidity opportunities. Apart from the Lenskart transactions, GQG Partners sold a stake worth ₹1,906 crore in GMR Airports through open-market deals in June. The broader wave of secondary transactions across India's new-age tech ecosystem comes as PE and VC investors look to monetise their holdings following public listings and improving market sentiment. Companies such as Pine Labs, Delhivery and Shadowfax have also witnessed sizable block deals in recent weeks, with the exits underscoring the trend of early investors cashing out amid rising institutional demand. The recent sales indicate that large early investors are gradually monetising portions of their holdings while retaining exposure to the eyewear company.
