Alpha Wave plans another Lenskart stake sale
By Abha Lohia ·
Lenskart: revenue and funding and every story →
- Lenskart is a listed eyewear retailer that sells glasses and lenses through its stores and online
- Alpha Wave Ventures plans to sell up to 1.6% of the company in a block deal (a large single-day share trade) worth up to ₹1,691 crore
- The base offer is about 0.9% at ₹640 a share, a discount to Friday's close, and follows its sale of 1.7% in late August
What happened
- Alpha Wave Ventures plans to sell up to 1.6% of Lenskart.
- The base size is about 0.9%, worth ₹966 crore.
- An upsize option adds 0.7%, worth ₹725 crore.
- The floor price is ₹640 a share, about 5.6% below Friday's close.
- The seller accepts a 30-day lock-in on further sales.
Why it matters
- Early backers are steadily cutting their holdings after the listing.
- A discounted floor price shows how heavy the supply is.
- Repeated sales can weigh on the share price.
The business
- Lenskart sells eyeglasses, sunglasses and contact lenses.
- It sells through its own stores and online.
Who put in money
- Alpha Wave Ventures seller — Global investment firm
What happens next
- The trade is expected to run as a single block deal.
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