Singapore’s sovereign wealth fund Temasek has sold a 2% stake in eyewear retailer Lenskart for about Rs 1,945 crore through open market transactions, according to regulatory filings with the stock exchanges on Tuesday.
The transaction, executed on July 10, reduced Temasek’s holding in the company to 4.75% from 6.8%. Lenskart shares closed at Rs 543.65 apiece on the National Stock Exchange that day.
Temasek’s stake sale comes barely a month after Abu Dhabi Investment Authority (ADIA) and Japanese investment firm SoftBank trimmed their holdings in the Gurgaon-based company. ADIA sold shares worth Rs 1,944 crore, while SoftBank realised Rs 2,873 crore through a block deal.
Lenskart listed on the stock exchanges in November 2025, and the six-month lock-in for pre-listing shareholders expired on May 8.
Including this transaction, Temasek has sold shares worth Rs 2,261 crore in the public markets. It had earlier offloaded shares worth Rs 316 crore through the offer-for-sale component of Lenskart’s initial public offering (IPO). At Tuesday’s closing price, Temasek’s remaining stake was valued at about Rs 4,433 crore, implying a paper return of around 5.6 times on its investment.
The Singapore-based investor first backed the omnichannel eyewear retailer in 2021, leading a $220 million funding round that valued Lenskart at $2.5 billion. It later co-led the company’s 2024 financing round with Fidelity, which valued Lenskart at $5 billion.
At Tuesday’s closing price of Rs 537.70 on the BSE, Lenskart was valued at Rs 93,491 crore (about $9.7 billion). The company had gone public at a valuation of Rs 70,000 crore.
In comparison, ADIA’s June stake sale generated paper returns of roughly 2.5 times on its 2023 investment. SoftBank, which first invested in Lenskart in 2019, realised nearly sevenfold returns through its June block deal.
For the quarter to March, Lenskart’s revenue from operations increased 46% year-on-year to Rs 2,516 crore, driven by volume growth and new customer additions across India and overseas markets. Net profit declined 7% to Rs 204 crore as the year-ago quarter included a one-time gain.
Source: Economic Times