Lenskart Shares Slump 5% Amid Bulk Deal Buzz
Shares of Lenskart Solutions fell as much as 5% during intraday trade to hit a low of ₹643.80 on the…
Lenskart's shares dropped by up to 5% in a single trading day, reaching a low of ₹643.80 on the BSE. The decline was triggered by the potential sale of a stake by early investor Alpha Wave Ventures. At 13:43 IST, the stock was trading 4.07% lower at ₹650.15, with a market capitalization of ₹1,13,098.38 Cr. According to reports, Alpha Wave Ventures plans to sell up to 1.6% of its stake in Lenskart, worth up to ₹1,691 Cr, at a minimum price of ₹640 per share.
The offer includes 15.1 Mn shares, equivalent to a 0.9% stake, with an option to sell an additional 11.3 Mn shares, or 0.7%. If the investor sells the entire offering, their stake in the company would decrease from 3.42% to 1.82%. This move adds to a series of recent share sales by Lenskart's early investors, including Alpha Wave Ventures, which sold shares worth ₹1,856.8 Cr in August.
The company's stock has seen a strong performance, with a 48% increase year-to-date, driven by robust financial results. Lenskart reported a staggering 273% YoY surge in consolidated net profit to ₹228.4 Cr in Q1 FY27, compared to ₹61.2 Cr in the same quarter last year. Operating revenue grew by 43% YoY and 8% QoQ to ₹2,714.2 Cr.
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