Lenskart Solutions shares closed at ₹648.30, marking a 4.33% decline and hitting their lowest closing level since August 28 amid heavy trading volumes. The decline followed the execution of a major block deal where Alpha Wave Ventures LP sold 2.64 crore equity shares, representing 1.51% of Lenskart Solutions' paid-up equity, for ₹1,704.8 crore at an average price of ₹645.31 per share. The stake sale was part of the 2.88% holding, equivalent to 5 crore equity shares, held by Alpha Wave Ventures as of September 2026. The floor price was set at ₹640 per share, representing a 5.2% discount to Friday's closing price of ₹677.85. The stock has seen significant corporate activity in the past 48 hours, including the grant of 342,000 employee stock options under its 2021 ESOP Plan at an exercise price of ₹508 per share.
Lenskart Solutions delivered exceptional Q1 FY27 results with net profit surging 182.3% year-on-year to ₹228 crore, while revenue grew 33.6% to ₹2,214 crore. As per The Economic Times, EBITDA margin expanded significantly to 21.7% from 18.0% in the previous year, with product margins crossing 70% for the first time at 70.3% compared to 68.7% a year earlier. The company achieved broad-based growth across both India and international markets, with India operations recording an EBITDA margin of 21.4% and international operations posting 21.9% margin. Growth remained strong across the entire price spectrum, from glasses priced at ₹500 including lenses and warranty through Hustlr Club to premium eyewear with high-end Rodenstock and Tokai lenses generating annual sales of around ₹250 crore.
The proposed transaction had a base offer size of ₹966 crore, representing around 0.9 percent equity, with an upsize option of ₹725 crore for an additional 0.7 percent stake. As reported by CNBC-TV18, the base offer comprises up to 15.1 million shares (0.9% equity) with an upsize option for an additional 11.3 million shares (0.7% equity). At the full offer size of 26.4 million shares (1.6% equity), Alpha Wave Ventures LP's stake would decline to 1.82% from 3.42%. The floor price was fixed at ₹640 per share, a discount of 5.2% to Friday's closing price of ₹677.85. 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 discount offered in the block deal has already manifested in the pre-open decline, with the ₹640 mark acting as an immediate critical support level for the stock.
Lenskart stock closed at ₹648.30, marking a 4.33% decline and hitting its lowest closing level since August 28, with trading volumes reaching heavy levels. The stock touched an intraday low of ₹643.75 on October 12, with the decline representing one of the top losers on the BSE 500 and NSE 500 indices. As per Business Standard, till 09:32 AM, a combined 40.34 million shares or 2.32% of Lenskart's total holding had changed hands on the BSE and NSE combined. The stock was quoting 4% lower at ₹648.90, compared to a 0.07% rise in the BSE Sensex. Despite Monday's decline, the stock has gained around 48 percent so far in 2026, with the company's market capitalisation standing at approximately ₹1.13 lakh crore. The ability of the stock to hold above the ₹640 support level will be paramount for any recovery, while the previous closing price of ₹677.85 will act as key resistance for any rebound.
Brokerages have raised their estimates following Lenskart's strong Q1 performance. According to The Economic Times, the brokerage raised its FY27-FY30 revenue estimates by 0-2% and earnings estimates by 3-7%. It also raised its EBITDA margin assumptions for the India business by 20-40 basis points and increased international revenue estimates by 1-5% for FY27-FY30, with revenue growth projected at 24% in FY27 and 19% annually in FY28-FY30. Morgan Stanley rolled its model forward to October 2027, raising its bull-case valuation to ₹1,154 from ₹1,048, implying a 41% upside, while its base-case valuation increased to ₹641 from ₹600. At the end of the June quarter, promoter entities held a 17.53% stake in Lenskart, while public shareholders held 82.05%, with Alpha Wave Ventures LP holding a 3.42% stake. On August 28, Alpha Wave Ventures had already sold 2.95 crore Lenskart shares for ₹1,857 crore through a block deal at ₹630 per share, with buyers including the National Pension System, ICICI Prudential Mutual Fund and WhiteOak Capital Mutual Fund.
