Lenskart Shares Slip 5% After ₹1,895 Crore Block Deal; Alpha Wave Ventures Eyed as Likely Seller

• by Akanksha Mishra
• 2026-10-12 15:06:00

Shares of leading eyewear retail giant Lenskart Solutions slipped nearly 5% in Monday morning trade following a massive block deal on the stock exchange worth approximately ₹1,895 crore. Around 29.3 million shares changed hands at ₹647 per share, representing about 1.67% of the firm's equity base, dragging the stock down by 4.6% to an intraday level of ₹646.30. Despite a 6% pullback over the past month driven by secondary market profit booking, the counter continues to maintain stellar positive momentum with a 47.8% gain year-to-date.

Mega ₹1,895 Crore Block Deal Executed on Bourses

The heavy block window transaction caused immediate intraday volatility across domestic trading desks:

Massive Volume Traded: Exactly 29.3 million equity shares were executed through the dedicated block deal window in early morning trading.

Deal Pricing: The entire lot changed hands at a negotiated rate of ₹647 apiece, putting the aggregate transaction size at ₹1,895 crore.

Equity Stake Dilution: The offloaded volume represents approximately 1.67% of the total equity share capital of Lenskart Solutions.

Intraday Counter Reaction: The sudden influx of available supply triggered immediate downward pressure, pulling the stock price down to ₹646.30.

Alpha Wave Ventures Likely Seller: Deal Breakdown and Lock-In Rules

While regulatory filings have not yet formally revealed buyer and seller entities, market activity aligns with weekend disclosures:

Discount Pricing Mechanics: Earlier reports had set an indicative floor price of ₹640 per share, marking a 5.2% discount to Friday's closing market price.

Base Size and Greenshoe Options: The structured offer was initially modeled at 0.9% (valued around ₹966 crore) with an upsize greenshoe provision for an additional 0.7% (valued at ₹725 crore).

30-Day Mandatory Lock-In: Sellers participating in this institutional block trade are bound by a 30-day lock-in period before disposing of further holdings.

Shareholding Mix: According to June quarter exchange data, Lenskart's promoters hold 17.53%, while public and non-promoter entities hold 82.05%. Alpha Wave Ventures held a 3.42% stake after trimming fractional exposure in August.

Robust Earnings Growth: Q1 Net Profit Jumps to ₹222 Crore

The block placement takes place against a backdrop of strong underlying operational and financial results:

Multi-Fold Net Profit Rise: In its Q1 results announced on August 12, Lenskart clocked a net profit of ₹222 crore, soaring from ₹60 crore reported in the corresponding prior-year period.

Operational Revenue Surge: First-quarter revenue from operations spiked 43.3% year-on-year to ₹2,714.2 crore, up from ₹1,894.5 crore logged twelve months earlier.

EBITDA Margins Expand: The company delivered a 75.1% rise in EBITDA to ₹588.5 crore, pushing operating margins up to 21.7% compared to 17.7% in the previous year.

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