Lenskart Solutions shares fell more than 4 percent in early trade on Monday after nearly 3 crore shares of the eyewear retailer changed hands through block deals, with global investment firm Alpha Wave Ventures LP likely to be the seller.
Around 2.93 crore shares, representing 1.67 percent of the company's equity, changed hands at Rs 647 apiece in transactions valued at approximately Rs 1,895 crore. The identities of the buyers and sellers were not immediately confirmed. The transactions came after CNBC-TV18 reported on Sunday that Alpha Wave Ventures was looking to offload up to 1.6 percent of Lenskart's equity through block deals.
The proposed transaction had a base offer size of Rs 966 crore, representing around 0.9 percent equity, with an upsize option of Rs 725 crore for an additional 0.7 percent stake. The floor price was fixed at Rs 640 per share, a discount of 5.56 percent to Friday's closing price of Rs 676.80.
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Lenskart stock declined 4.1 percent to around Rs 650 in early trade, making it one of the top losers on the BSE 500 and NSE 500 indices. Despite Monday's decline, the stock has gained around 48 percent so far in 2026. The company's market capitalisation stood at approximately Rs 1.13 lakh crore.