Shares of Lenskart Solutions fell 5% to ₹646.3 after a ₹1.895 bn block deal, the biggest equity shift in the quarter.
The block deal involved 2.93 crore shares at ₹647 each, representing 1.67% of the float. Sources say Alpha Wave Ventures LP will offload up to 1.6% of the company for up to ₹1,691 bn at a floor of ₹640—a 5.2% discount to Friday’s close.
Lenskart’s Q1 earnings, announced on Aug 12, showed net profit of ₹222 crore, up 3.7× from ₹60 crore a year earlier, while revenue climbed 43.3% to ₹2,714.2 crore. EBITDA margin expanded to 21.7% from 17.7%.
The results beat the consensus of ₹190 crore net profit and a 21% margin, lifting sentiment before the block sale. Yet the 5% slide suggests investors are pricing in a potential dilution from the upcoming stake sale.
The company will file its Q2 results on Nov 30, and the board will review the lock‑in period for Alpha Wave’s shares. Market watchers will watch for any guidance on revenue growth or margin targets.