Singapore's sovereign wealth fund Temasek sold a 2% stake in Lenskart Solutions Ltd through an open-market transaction on July 10, worth approximately ₹1,940 crore ($200 million), according to a stock exchange notification dated July 14. This sale reduced Temasek's holding in the eyewear retailer to 4.75% from 6.8%, with Lenskart's stock closing at ₹543.65 on the National Stock Exchange that day.
The transaction was executed via Temasek's subsidiary MacRitchie Investments Pte, which sold 3.56 crore shares in multiple tranches. The latest tranche involved 72.69 lakh shares sold on July 10, valued at about ₹395 crore based on the closing price. Following these sales, MacRitchie's stake declined to 4.71% from 6.75%, holding 8.24 crore shares. Temasek initially invested in Lenskart in 2024 through secondary purchases from founders and existing shareholders.
This stake sale comes amid similar moves by other Lenskart investors such as Alpha Wave Ventures, BirdsEye Holdings, and TR Capital, who have also sold parts of their holdings after the lock-in period expired. Temasek's initial investment in 2021 was during a $220 million funding round that valued Lenskart at $2.5 billion. The current divestment reflects a broader trend of early investors trimming stakes in the eyewear retailer post its public listing.
Temasek's subsidiary now holds 173.64 fully paid-up equity shares valued at ₹347.28 crore in Lenskart. The block deal on July 10 marks a significant reduction in Temasek's exposure to the company, as disclosed in the stock exchange filings and regulatory notifications.