Alpha Wave Ventures sold 2.94 crore shares of Lenskart in multiple block deals for ₹1,856.8 crore, marking a continued trend of early backers cashing out stakes following robust stock gains and strong financial results.
- Alpha Wave Ventures offloaded 1.7% stake for ₹1,856.8 crore
- National Pension System Trust among largest buyers of shares
- Shares rose following strong Q1 FY27 earnings and positive broker outlooks
What happened
Alpha Wave Ventures sold 2.94 crore shares of Lenskart in multiple block deals priced at ₹630 per share, raising a total of ₹1,856.8 crore. This sale reduced its stake in the company from 3.42% to around 1.7%. Notable buyers included institutional investors such as the National Pension System Trust, ICICI Prudential Mutual Fund, Whiteoak Capital Mutual Fund, Redwheel, and Morgan Stanley.
This move follows a pattern of early backers divesting parts of their holdings in Lenskart, with recent stake sales also made by SoftBank, Temasek, and the Abu Dhabi Investment Authority earlier this year. The market saw increased absorption of these shares, underscoring strong institutional interest in the company.
Why it matters
The stake sales are occurring against the backdrop of a significant rise in Lenskart’s share price, rising 14.6% over the past month and 41.2% since the start of the year. This upward momentum has been driven by the company’s strong financial performance, including a 273% surge in consolidated net profit for Q1 FY27 and a 43% year-on-year revenue increase.
Brokerages have responded positively by raising target prices for the stock, reflecting heightened investor confidence. The sales by early investors allow these stakeholders to monetize their investments while signaling a maturing market ecosystem for Lenskart as it transitions further into a publicly traded environment.
What to watch next
Market participants will closely monitor further stake sales by early investors and institutional activity to gauge ongoing investor sentiment towards Lenskart. Continued strong quarterly results and revenue growth will be key in sustaining the stock’s bullish trend.
Additionally, the company’s ability to capitalize on its omnichannel retail model and expand market share in India’s eyewear sector will be critical for maintaining momentum. Observers should also watch for any strategic share buybacks or fresh capital raises that may impact future shareholding patterns.