Alpha Wave sells $1,857 crore Lenskart stake as funds, insurers pile in
What's the deal? Alpha Wave Ventures and its affiliates sold 2.95 crore shares of Lenskart Solutions for about ₹1,857 crore in a block deal on Friday. Buyers included mutual funds, insurers, pension funds and overseas investors, all paying ₹630 per share.
Who bought in? NPS TrustDealroom has a profile for this one. Try Dealroom → acquired 78.57 lakh shares worth nearly ₹495 crore, and ICICI Prudential Mutual FundDealroom has a profile for this one. Try Dealroom → bought 60.32 lakh shares worth about ₹380 crore. Other buyers included Whiteoak CapitalDealroom has a profile for this one. Try Dealroom →, ICICI Prudential LifeDealroom has a profile for this one. Try Dealroom →, HDFC Standard LifeDealroom has a profile for this one. Try Dealroom →, Goldman SachsDealroom has a profile for this one. Try Dealroom →, Morgan StanleyDealroom has a profile for this one. Try Dealroom →, SBI Mutual FundDealroom has a profile for this one. Try Dealroom → and the Kuwait Investment AuthorityDealroom has a profile for this one. Try Dealroom →.
Who sold? Alpha Wave Ventures II LP led the sale with 2.03 crore shares across two transactions. Alpha Wave Ventures and Alpha Wave Ventures LPDealroom has a profile for this one. Try Dealroom → sold 45.21 lakh and 46.94 lakh shares, respectively.
The backdrop: The exit came days after the eyewear retailer posted strong quarterly results. Q1 FY27 net profit jumped 270% year on year to ₹222 crore, while revenue grew 43.3% to ₹2,714.2 crore.
By the numbers: India revenue rose 30.7% and international revenue climbed 38%. The stock closed at ₹636.10 on Friday, down 0.70%.
The signal: The block deal shows domestic institutions and global funds stepping in as an early backer trims its position — a common pattern as newly listed startups mature and their investor base broadens.
Read more: cnbctv18.com
Image credit: sarahstierch
