Lenskart Shares Drop Over 4% After ₹1,895 Crore Block Deals Involving 2.93 Crore Shares, Alpha Wave Ventures Likely Seller
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Lenskart shares fell over 4% after ₹1,895 crore in block deals involving 2.93 crore shares. Alpha Wave Ventures is the likely seller. Read more for details.
Lenskart shares slipped more than 4% on Monday, 12 October, as 2.93 crore shares worth ₹1,895 crore changed hands in block deals at ₹647 apiece.
Alpha Wave Ventures LP is believed to be behind the sale, though the buyers and sellers have yet to be officially identified. The deal covered 1.67% of Lenskart’s total equity, with ₹640 set as the minimum sale price.
The stock fell 4.6% to ₹646.20 around 10:07 AM. Despite the decline, Lenskart shares remain up nearly 48% in 2026, although they have lost about 6% over the past month. The latest fall comes amid continued stake trimming by large investors.
Why Did Lenskart Share Price Fall?
The decline came after reports over the weekend indicated that Alpha Wave Ventures was planning to sell up to 1.6% of its stake in Lenskart through block deals. The proposed sale had a base offer size of ₹966 crore for a 0.9% stake, with an option to sell an additional 0.7% stake worth ₹725 crore.
The floor price of ₹640 represented a discount of around 5.2% to Lenskart's closing price of ₹676.80 on Friday. Such discounts can put pressure on a stock in the short term, particularly when large shareholders sell their holdings.
According to stock exchange data for the June quarter, Alpha Wave Ventures held a 3.42% stake in Lenskart. The promoter entities collectively held 17.53%, while public shareholders accounted for 82.05% of the company's equity.
Previous Stake Sales And Financial Performance
The latest transaction follows several large stake sales by institutional investors in recent months.
On 28 August, Alpha Wave Ventures sold 2.95 crore shares, equivalent to a 1.7% stake, for ₹1,857 crore at an average price of ₹630 per share. Buyers included the National Pension System, ICICI Prudential Mutual Fund and WhiteOak Capital Mutual Fund.
Earlier, on 25 August, SoftBank Vision Fund II sold 4.5 crore shares for approximately ₹2,887.9 crore at an average price of ₹641.75 per share. In September, another block deal involving 3.6 crore shares worth ₹2,468 crore took place amid reports of a potential stake sale by Platinum Jasmine, an investment vehicle linked to the Abu Dhabi Investment Authority.
Meanwhile, Lenskart reported strong first-quarter financial results on 12 August. Its net profit rose to ₹222 crore from ₹60 crore a year earlier, while revenue increased 43.3% to ₹2,714.2 crore. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) climbed 75.1% to ₹588.5 crore, with margins expanding to 21.7% from 17.7% in the corresponding quarter last year.
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
At Kotak Neo, she drives content strategy for neoshorts, Kotak News Desk, and Investing Guide, turning market noise into something worth reading.
When she's not decoding markets, she trades charts for canvases, chasing art, painting, and architecture across cities she's yet to explore.
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