Temasek joins ADIA, SoftBank in trimming Lenskart stake with ₹1,940 crore block deal

Singapore's sovereign wealth fund Temasek has sold a 2% stake in Peyush Bansal-led Lenskart Solutions Ltd through an open-market transaction on 10 July, according to a stock exchange notification dated 14 July.

The transaction, worth an estimated ₹1,940 crore (around $200 million), was executed through its subsidiary MacRitchie Investments Pte. Following the sale, Temasek's holding in the eyewear retailer declined to 4.75% from 6.8%.

On 10 July, Lenskart's stock closed at ₹543.65 on the National Stock Exchange.

Temasek first invested in Lenskart in July 2021, leading a $220 million funding round alongside Falcon Edge Capital (now Alpha Wave Global). The funding round valued the eyewear retailer at $2.5 billion.

July's stake sale follows a series of secondary-market sell-downs in Lenskart over the past two months.

Mint reported on 10 June that Abu Dhabi's sovereign wealth fund had launched a secondary share sale in Lenskart 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.

The 8 May transactions came soon after the expiry of the six-month shareholder lock-in following the company's public listing.

According to Nuvama Alternative & Quantitative Research, the lock-in expiry made nearly 1,047.4 million shares eligible for trading. Together, these shares accounted for around 60% of the company's outstanding equity and were valued at approximately ₹51,573 crore, based on the closing price on 7 May.

This also marks Temasek's second $200-million listed Indian equity transaction this month. On 3 July, the investor sold a 2.4% stake in PB Fintech, raising approximately the same amount.

In the March quarter, Lenskart's net profit declined 9% year-on-year to ₹200 crore despite a 46% jump in revenue from operations to ₹2,516 crore. The company is yet to announce its June quarter earnings.

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 month also witnessed stake sales in companies including SoftBank-backed Meesho Ltd, jewellery retailer Bluestone Jewellery and Lifestyle Ltd, Groww parent Billionbrains Garage Ventures Ltd, Capital Small Finance Bank and logistics platform Delhivery Ltd.

Agnidev is a business journalist with over two years of reporting experience tracking the intersection of capital, policy, and corporate strategy in India.<br><br>He joined Mint in December 2025, after a stint at NDTV Profit (erstwhile BQ Prime). At Mint, Agnidev focuses on the high-stakes world of the Indian capital market, specialising in mergers and acquisitions, burgeoning IPOs, and the investment banking industry.<br><br>Backed by a rigorous, data-driven approach, Agnidev frequently breaks news on the valuation cycles, deal pipelines and listing strategies of India’s most prominent companies. His reportage offers deep dives into the operational health of market leaders across the corporate landscape, providing readers with a clear-eyed view of institutional growth.<br><br>He has reported on major issues like India's derivatives frenzy, IPO froth, the competitive quick commerce industry, the real-money gaming ban, and has broken investigative stories related to scandals such as IndusInd Bank's accounting manipulation and the Gensol-BluSmart fiasco.<br><br>As a reporter, he brings stories that ultimately affect your stock market investments, and tries to bring clarity and brevity in a field that is often filled with jargon and noise.

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