Lenskart Shares Slide 5% Following ₹1,895 Crore Mega Block Deal on Dalal Street
Shares of eyewear major Lenskart Solutions faced sharp selling pressure on Monday, October 12, 2026, falling nearly 5 percent to trade around ₹646.30 after a massive block transaction worth ₹1,895 crore was executed in morning trade. The exchange window witnessed heavy volume as approximately 29.3 million equity shares—representing about 1.67 percent of the company’s total outstanding equity—changed hands at a negotiated deal price of ₹647 per share. While official exchange filings disclosing the identities of the buyers and sellers are awaited at the end of the trading session, market chatter and earlier disclosures strongly pointed to early private equity backer Alpha Wave Ventures trimming its ownership. Despite Monday's intraday dip, which extended the stock's one-month decline to around 6 percent, the counter remains a solid outperformer with a robust 47.8 percent gain on a year-to-date basis.
Alpha Wave Ventures Stake-Sale Buzz: Deal Terms and 30-Day Lock-In
The heavy block trade follows reports indicating that Alpha Wave Ventures LP intended to divest up to a 1.6 percent stake in Lenskart through an accelerated book-build process with a floor price established at ₹640 per share—a 5.2 percent discount to Friday’s closing price. The transaction was structured with a base deal size of 0.9 percent equity valued at approximately ₹966 crore, alongside an upsize option to offload an additional 0.7 percent stake worth ₹725 crore, which appears to have been exercised given the total transaction value of ₹1,895 crore. Under the customary terms of the secondary market transaction, the selling institutional shareholder is bound by a 30-day lock-in restriction before offloading further equity. Shareholding filings from the end of the June quarter indicate that Lenskart’s promoter group controlled 17.53 percent of the company, while institutional and public shareholders held 82.05 percent, with Alpha Wave Ventures LP maintaining a 3.42 percent stake after previously trimming a portion of its holdings in August.
Robust Fundamental Canvas: Q1 Profit Jumps to ₹222 Crore Amid Fast Expansion
Despite short-term volatility stemming from large secondary market liquidity events, Lenskart’s operational trajectory continues to demonstrate strong underlying momentum. In its first-quarter financial scorecard announced in mid-August, the omnichannel eyewear retailer delivered a steep multi-fold increase in net profit, jumping to ₹222 crore compared to ₹60 crore recorded in the corresponding quarter of the previous fiscal year. Topline performance was equally robust, with quarterly operating revenue surging 43.3 percent year-on-year to ₹2,714.2 crore from ₹1,894.5 crore, while earnings before interest, taxes, depreciation, and amortization (EBITDA) leaped 75.1 percent to ₹588.5 crore from ₹336.1 crore. While the large block deal created temporary supply overhang in early trade, long-term market participants continue to benchmark the stock against its aggressive offline store expansion, international footprint, and widening operating profit margins.
