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

Alpha Wave Ventures offloaded 2.94 Cr shares of Lenskart for ₹1,856.8 Cr in multiple block deals. The venture capital firm sold the shares at ₹630 each, with the funds being absorbed by various investors. Among the beneficiaries were the National Pension System Trust, Bajaj Life Insurance, BofA Securities, Edelweiss, Goldman Sachs, HDFC Life Insurance, Kuwait Investment Authority, Morgan Stanley, Societe Generale, Susquehanna, Whiteoak Capital MF, Redwheel, and Morgan Stanley.

The NPS Trust was the largest buyer, acquiring 78.6 Lakh shares worth nearly ₹495 Cr, followed by ICICI Prudential Mutual Fund's purchase of 60.3 Lakh shares for ₹380 Cr. Whiteoak Capital MF bought shares worth nearly ₹100 Cr, while Redwheel acquired Lenskart stock worth ₹65 Cr. Morgan Stanley's acquisition was valued at ₹69.3 Cr.

With this deal, Alpha Wave Ventures has reduced its stake in Lenskart to approximately 1.7%, having previously held a 3.42% position or 5.9 Cr shares. SoftBank, Temasek, and Abu Dhabi Investment Authority have also offloaded Lenskart shares in recent months. Lenskart's stock has risen by 14.6% in the past month and 41.2% year-to-date, following an uptick in brokerages raising their target prices after the company reported strong Q1 FY27 results.