The proposed deal involves around 1.2% of Lenskart’s existing equity, with a floor price fixed for the stake sale.
Mumbai: Shares of Lenskart are likely to remain in focus as investor Alpha Wave Ventures II is expected to sell up to 2.08 crore shares through a block deal worth around ₹1,313 crore, according to people familiar with the development cited by NDTV Profit.
The proposed Lenskart block deal involves around 1.2% of the company’s existing equity.
The floor price has been set at ₹630 per share, representing a discount of about 1.7% to Lenskart’s previous closing price.
Alpha Wave Ventures II held a 1.2% stake in Lenskart as of the quarter ended June, meaning the proposed transaction could substantially exit its current holding.
Lenskart block deal comes after strong Q1 performance
The potential stake sale comes shortly after Lenskart reported a sharp improvement in its financial performance for the first quarter of FY27.
The company’s net profit jumped about 270% year-on-year to ₹222 crore, compared with ₹60 crore in the same quarter a year earlier.
Revenue from operations increased 43% to ₹2,714 crore from ₹1,894 crore in the year-ago period.
Lenskart also reported strong growth in operating profitability.
EBITDA rose 76% to ₹588 crore from ₹335 crore, while the EBITDA margin expanded to 21.7% from 17.7%.
The company had reported a one-time loss of ₹10.4 crore in the corresponding quarter of the previous fiscal year.
What the deal means for Lenskart
The proposed transaction would allow Alpha Wave Ventures II to monetise part of its investment in Lenskart while allowing other institutional investors to acquire shares through the block market.
For Lenskart, the stake sale does not represent a fresh fundraise because the shares are being sold by an existing investor rather than issued by the company.
The proposed ₹630 floor price will also be closely watched by investors, particularly after Lenskart’s strong Q1 earnings and improvement in margins.
With the Lenskart block deal representing around 1.2% of existing equity, trading volumes and investor sentiment could remain in focus when the transaction takes place.
Source: NDTV Profit
