Lenskart Shares Under Pressure as Viridian Buys ₹96 Crore Stake in Block Deal

Lenskart shares remained in focus after a major institutional block deal worth ₹96 crore was executed on the exchanges. Hong Kong-based hedge fund Viridian Asia Opportunities Master Fund emerged as the buyer, acquiring nearly 19 lakh shares of the eyewear company. However, despite the institutional interest, the stock witnessed selling pressure and declined more than 2% during trading.

Key Highlights:

• Viridian Asia Opportunities Master Fund purchased a stake worth approximately ₹96 crore in Lenskart.

• The hedge fund acquired around 18.96 lakh shares through a block deal.

• The shares were bought from Copthall Mauritius Investment, an entity linked to JPMorgan.

• The transaction was executed at around ₹506 per share.

• Lenskart shares slipped over 2% despite the large institutional purchase.

• The stock traded near ₹497 after the deal.

• The block deal has attracted significant attention from investors and market participants.

• Foreign institutional investors continue to show interest in India's consumer and retail sector.

• Market experts believe the transaction reflects portfolio reshuffling rather than any change in the company's fundamentals.

• Investors will closely track future institutional activity and shareholding patterns in the stock.