SoftBank sells 3% stake in India's Lenskart
SoftBank sells 3% stake in India's Lenskart June 3 (Reuters) - SoftBank 9984.T has sold a 3.25% stake in Indian eyewear retailer Lenskart Solutions LENS.NS via a block deal, data from the National Stock Exchange showed on Wednesday.
SoftBank, via its affiliate SVF II Lightbulb (Cayman), offloaded 56.5 million shares at 508.55 Indian rupees each, making the transaction worth 28.73 billion rupees ($300.2 million).
The share sale was executed at a nearly 3% discount to Lenskart's closing price on Tuesday.
Buyers included Fidelity, the Los Angeles City Employees' Retirement System and mutual funds by ICICI Prudential and Kotak Mahindra.
SoftBank held a 13.13% stake in Lenskart as of March-end, exchange data showed.
For the March quarter, Lenskart reported a near 9% drop in net profit, while its revenue rose 46% to 25.16 billion rupees.
($1 = 95.7050 Indian rupees)
(Reporting by Nishit Navin in Bengaluru; Editing by Diti Pujara)
((Nishit.Navin@thomsonreuters.com;))
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