Alpha Wave Ventures Sells ₹1,857 Cr Stake In Lenskart Via Block Deals

Early backers continue to dilute their shareholding in Lenskart. Alpha Wave Ventures has now offloaded 2.94 Cr shares of the omnichannel eyewear giant in multiple block deals for ₹1,856.8 Cr.

As per NSE data, the venture capital (VC) firm sold the shares at ₹630 apiece to rake in the amount. 

The shares that flooded the market were lapped up by National Pension System (NPS) Trust, Bajaj Life Insurance, BofA Securities, Edelweiss, Goldman Sachs, HDFC Life Insurance, Kuwait Investment Authority, Morgan Stanley, Societe Generale, Susquehanna, among others. 

The NPS Trust emerged as the biggest buyer and purchased 78.6 Lakh Lenskart shares for nearly ₹495 Cr, while ICICI Prudential Mutual Fund bought 60.3 Lakh shares for ₹380 Cr. 

Meanwhile, Whiteoak Capital MF also bought shares worth nearly ₹100 Cr, Redwheel (via multiple entities) lapped up Lenskart stock worth ₹65 Cr and Morgan Stanley acquired shares worth ₹69.3 Cr. 

With this, Alpha Wave Ventures has offloaded nearly 1.7% stake in Lenskart. The VC firm held 3.42% stake, or 5.9 Cr. shares in the eyewear giant at the end of June 2026. 

Alpha Wave Ventures is not the first early backer to sell its stake in the listed company in the past couple of months. Just days ago, Japanese tech giant SoftBank dumped Lenskart shares worth ₹2,887.9 Cr, while Temasek also offloaded 2.05% stake in the omnichannel eyewear company last month for ₹1,934 Cr. 

In June, Abu Dhabi Investment Authority (ADIA) also sold 4 Cr shares of the company in a block deal worth ₹1,960 Cr. 

The stake sales come as early backers look to book profits amid an uptick in Lenskart stock price. Shares of the company have jumped 14.6% in the past month and are up 41.2% on a year-to-date (YTD) basis. 

This has come on the back of multiple brokerages raising their target prices on the eyewear giant after its healthy Q1 FY27 results. While Jefferies raised its target price for Lenskart to ₹680 from ₹600, Macquarie raised its target price to ₹675 from ₹625. Goldman Sachs raised its target price to ₹715 from ₹625 and Citi raised its target price to ₹650 from ₹600.

The positive outlook came as the omnichannel eyewear giant’s consolidated net profit surged 273% to ₹228.4 Cr in Q1 FY27 from ₹61.2 Cr in the year-ago quarter. Operating revenue jumped 43% YoY and 8% QoQ to ₹2,714.2 Cr.

Shares of Lenskart closed Friday’s trading session 0.54% lower at ₹636.15 on the BSE. 

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