Lenskart block deal: Lenskart Solutions share price crashed over 5% in Monday's trading session amid reports of likely block deal by Alpha Wave Ventures. Lenskart share price opened at ₹650 per share on NSE today, as compared to previous close of ₹677.85 on Friday last week an touched an intraday low of ₹643.75 on 12 October.
According to CNBC TV18 report, as many as 2.93 crore shares of Lenskart Solutions, representing 1.67% of the company’s equity, were traded through block deals on Monday, October 12. The transaction was valued at ₹1,895 crore, with the shares changing hands at ₹647 apiece. The identities of the buyers and sellers have not yet been disclosed.
The report further revealed that Alpha Wave Ventures LP was likely to sell up to a 1.6% stake in Lenskart for as much as ₹1,691 crore. The proposed sale was pegged at a floor price of ₹640 per share, representing a 5.2% discount to the stock’s closing price on Friday.
The base offer size covered a 0.9% stake worth ₹966 crore, with an option to increase the sale by another 0.7% stake valued at ₹725 crore, the sources said. The sellers would be subject to a 30-day lock-in period before undertaking any further stake sale.
According to stock exchange data, promoter entities held a 17.53% stake in Lenskart at the end of the June quarter, while public shareholders owned 82.05%. Alpha Wave Ventures LP held a 3.42% stake in the company at the time and had already sold a portion of its holding in August.