Lenskart shares drop 5% on block deal; Alpha Wave Venture likely seller

Lenskart Faces Pressure as Block Deal Triggers 5% Share Price Drop

The recent block deal involving Lenskart shares has raised eyebrows, with a significant drop in share price as market dynamics shift.

Block Deal Details and Market Reaction

Lenskart Solutions experienced a notable decline in its share price on Monday, dropping 5% to ₹645 during intra-day trading. This decline was triggered by a block deal involving approximately 27.08 million shares, which represents about 1.56% of the company’s total equity. By 09:32 AM, the total volume of shares traded had reached 40.34 million, accounting for 2.32% of Lenskart’s total holdings. In contrast, the BSE Sensex showed only a marginal increase of 0.07% during the same period.

While the identities of the buyers and sellers were not immediately disclosed, reports suggest that Alpha Wave Ventures LP, which currently holds a 3.42% stake in Lenskart, is likely the seller in this block deal. The deal, estimated to be worth up to ₹950 crore, includes a base offer of 15.1 million shares with an option to upsize by an additional 11.3 million shares. If fully executed, Alpha Wave Ventures’ stake would decrease to 1.82%.

Performance Context and Future Outlook

Despite the recent drop, Lenskart has shown impressive resilience in the market, with its shares soaring nearly 50% year-to-date, significantly outperforming the BSE Sensex, which has seen a decline of 15%. The stock reached a record high of ₹725 on September 18, 2026, indicating strong investor interest prior to this block deal.

Analysts from Jefferies have highlighted Lenskart’s innovative strategies, such as the introduction of ₹500 fully-loaded spectacles, which cater to a diverse customer base. This focus on premiumization is expected to support both growth and margins in the long run. The management’s commitment to prioritizing growth over immediate profitability is evident, with product-level gross margins already reaching 70% and long-term EBITDA margin aspirations set at 25%.

Analyst Projections for Upcoming Quarter

Looking ahead, analysts at JM Financial Institutional Securities project a robust 30% year-on-year revenue growth for Lenskart in the upcoming July to September 2026 quarter. This growth is anticipated to be driven by a 31% increase in the India segment and a 27% rise in international sales. Furthermore, they expect operating leverage to contribute to a 190 basis points year-on-year expansion in EBITDA margins, with pre-Ind-AS EBITDA margins projected to reach 13.2%.

Key Highlights

• Lenskart shares fell 5% to ₹645 following a significant block deal.
• Approximately 27 million shares were traded, representing 1.56% of total equity.
• Alpha Wave Ventures LP is reportedly the likely seller in the block deal.
• The stock has surged nearly 50% year-to-date, outperforming the BSE Sensex.
• Analysts project a 30% revenue growth for the upcoming quarter.
• Long-term EBITDA margin aspirations are set at 25% by Lenskart’s management.

Investor Note: The recent block deal and subsequent share price drop may prompt investors to reassess their positions in Lenskart. While the company’s growth trajectory remains strong, the market’s reaction to large transactions can often lead to volatility. Investors should monitor the developments closely, particularly the outcomes of the block deal and the company’s performance in the upcoming quarters.