Alpha Wave sells ₹1,313 crore Lenskart stake as profit jumps 182%
What's the deal? Alpha Wave Ventures IIDealroom has a profile for this one. Try Dealroom → is selling a 1.2% stake in eyewear retailer Lenskart through a block deal valued at ₹1,313 crore. The shares are priced at ₹630 each, a 1.7% discount to the recent closing price.
Why now? The sale is the latest in a run of exits by early backers since Lenskart's post-IPO lock-in expired in May 2026. It has added a steady supply of shares to the secondary market.
The numbers: The exit lands as Lenskart's business accelerates. In Q1 FY27, net profit surged 182.3% year-on-year to ₹228 crore, and revenue rose 33.6% to ₹2,714 crore.
Consolidated product margins topped 70% for the first time, a sign of improved efficiency despite an aggressive push into physical stores.
What could go wrong? Recurring block deals since the lock-in expiry can create short-term price volatility as large blocks change hands. Lenskart also keeps investing heavily in store additions and supply chain infrastructure, pressuring cash flow even as profits climb.
To steady the stock, Alpha Wave faces a 45-day lock-up preventing an immediate follow-up sale.
The signal: The tension between strong fundamentals and steady investor selling defines Lenskart's post-IPO chapter. The key test is whether it can sustain rapid profit growth and margin gains while executing its expansion at home and abroad.
Read more: whalesbook.com
Image credit: Topher
