Lenskart shares drop up to 5% intraday as Alpha Wave signals stake sale
Lenskart’s shares slipped as much as 5% intraday on the BSE today after Alpha Wave Ventures signaled a possible stake sale. The investor is looking to offload up to 1.6% of its holding for as much as ₹1,691 crore, pricing the floor at ₹640 per share.
Lenskart’s market capitalisation stood at ₹1,13,098.38 crore at the time of the dip. The proposed sale involves 15.1 million shares (about 0.9% of the company) with an option to sell another 11.3 million shares (roughly 0.7%). If the full 26.4 million shares are sold, Alpha Wave’s stake would fall from 3.42% to 1.82%. In August, the fund sold 2.94 crore shares at ₹630 each, fetching ₹1,856.8 crore, and earlier this year SoftBank, Temasek and the Abu Dhabi Investment Authority also offloaded sizable blocks.
SoftBank sold Lenskart shares worth ₹2,887.9 crore, while Temasek offloaded a 2.05% stake for ₹1,934 crore last month. Earlier, in June, Abu Dhabi Investment Authority sold 4 crore Lenskart shares in a block deal worth ₹1,960 crore.
What we know
Shares fell as much as 5% intraday to a low of ₹643.80.
Market capitalisation was ₹1,13,098.38 crore.
Alpha Wave Ventures is looking to sell up to 1.6% of its stake for as much as ₹1,691 crore at a floor price of ₹640 per share.
In August, Alpha Wave sold 2.94 crore shares at ₹630 each, fetching ₹1,856.8 crore.
Lenskart reported a 273% YoY surge in consolidated net profit to ₹228.4 crore in Q1 FY27.