Lenskart block deal: Shares of Lenskart Solutions Ltd are in focus on Friday morning, as block deals worth nearly 3,300 crore are likely to take place in the counter on a day 104.70 crore initial public offer (IPO) lock-in shares, accounting for 60 per cent of the total outstanding stocks, are set to expire.  As per a report, the eyewear major may see 7.2 crore shares changing hands on stock exchanges in a transaction worth Rs 3,293.60 crore for about Rs 470 per share. Selling shareholders include Birdseye View, TR Capital and ABG Capital, who may look to exit the company, CNBC TV 18 reported sources as saying. Business Today could not independently verify the report.

Lenskart is India’s largest vertically integrated, technology-led, omnichannel eyewear platform. Analysts said Lenskart has built strong moats in a difficult-to-scale category through a centralised, highly automated manufacturing facility and logistics network. MOFSL, while initiating coverage on the stock in February this year cited the company's strong backward integration through in-house frame and lens manufacturing, which provides significant cost advantage; and large omnichannel presence through its mobile app and a network of 2,439 retail stores across 435 cities in India and 705 international stores.

The stock is among MOFSL's top non-Nifty picks, the brokerage said in its May strategy note. 

MOFFSL said the company is leveraging technology to ease constraints in scaling up eye tests, store expansions and delivering superior store economics. Besides, it cited house-of-brands architecture spanning mass to premium eyewear, which may help achieve goal of making quality eyewear accessible and affordable.