SoftBank Sells 2.6% Stake In Lenskart For Rs 2,888 Crore
· Business · Economic Times
SoftBank Group has offloaded a 2.6% stake in Gurugram-based eyewear retailer Lenskart for Rs 2,888 crore through open market transactions. The shares were sold by the Japan-based firm's affiliate, SVF II Lightbulb (Cayman) Ltd, across 22 tranches on the BSE. This sale reduces SoftBank's total holding in the company from 9.86% to 7.28%. The block deal attracted participation from various institutional investors, including the National Pension System Trust and several domestic mutual funds. Despite the sale, SoftBank remains the second-largest public shareholder in Lenskart, trailing the Platinum Jasmine A 2018 Trust.
Why it matters
The transaction marks a significant reduction in SoftBank's exposure to the Indian retail sector and provides a liquidity event for institutional investors involved in the block deal.
Read the original report — Economic Times
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