Alpha Wave Ventures has trimmed its stake in Lenskart Solutions by selling approximately 2.94 crore shares through block deals valued at ₹1,856.8 crore. The transactions were executed at ₹630 per share on August 28, according to National Stock Exchange data. A broad mix of domestic and global institutional investors participated, reflecting sustained demand for the eyewear company's stock.
Transaction Structure
The sale was carried out by multiple entities linked to Alpha Wave Ventures, including Alpha Wave Ventures II LP, Alpha Wave Ventures, and Alpha Wave Ventures LP. Based on the venture capital firm's reported stake of 3.42 percent at the end of June 2026, the offloaded shares account for nearly 1.7 percent of Lenskart. All transactions were completed at a uniform price of ₹630 per share.
Key Buyers
The National Pension System Trust was the largest single buyer, purchasing 78.6 lakh shares for roughly ₹495 crore. ICICI Prudential Mutual Fund followed with 60.3 lakh shares worth ₹380 crore, while Whiteoak Capital Mutual Fund bought shares worth nearly ₹100 crore. Other buyers included Morgan Stanley, Goldman Sachs, HDFC Life Insurance, Kuwait Investment Authority, Societe Generale, and Susquehanna, among others.
Wider Investor Activity
Alpha Wave Ventures joins several early backers that have monetized part of their holdings in recent months. SoftBank recently sold Lenskart shares worth ₹2,887.9 crore, while Temasek offloaded a 2.05 percent stake for ₹1,934 crore last month. In June, Abu Dhabi Investment Authority sold four crore shares in a deal valued at ₹1,960 crore.
Stock Performance and Earnings
Lenskart shares closed at ₹636.15 on the BSE on August 28, a decline of 0.54 percent for the session, but the stock remains up about 41 percent year to date. The company's 52-week high of ₹673.90 was reached on August 24, 2026. The rally has been supported by strong first quarter results, with net profit rising 273 percent to ₹228.4 crore and operating revenue growing 43 percent to ₹2,714.2 crore.
Brokerage Sentiment
The earnings performance has prompted multiple brokerages to raise their target prices for Lenskart. Jefferies increased its target to ₹680 from ₹600, Macquarie raised it to ₹675 from ₹625, and Goldman Sachs set a target of ₹715 from ₹625. Citi also lifted its target to ₹650 from ₹600, reflecting broad confidence in the company's growth trajectory.
IPO and Listing History
Lenskart made its stock market debut in November 2025 after raising ₹7,278.02 crore through a fresh issue and an offer for sale. Its shares listed at ₹395 on the NSE, a 1.75 percent discount to the issue price of ₹402, and at ₹390 on the BSE. Since then, the stock has recorded significant gains, supported by expanding operations and improving profitability.
Company Background
Lenskart Solutions is a technology driven eyewear company that sells prescription eyeglasses, sunglasses, contact lenses, and accessories. India is its largest market, and the company has expanded into Japan, Southeast Asia, and the Middle East. The company designs and sells a wide range of eyewear products under multiple owned in-house brands and sub-brands.
The latest block deal highlights a continuing pattern of early investors realizing returns as Lenskart's market value strengthens. Strong earnings, higher broker targets, and robust institutional demand have supported the stock despite repeated stake sales. Lenskart's ability to attract a diversified group of buyers suggests confidence in its long term prospects.