Lenskart sees ₹1,857 crore block deal as Alphawave is reported likely seller
About 2.9 crore Lenskart shares, or 1.67% of equity, changed hands in a ₹1,856.7 crore block deal. The eyewear retailer also reported June-quarter revenue growth of 43.3% year-on-year, net profit of ₹221.84 crore and a store network of 3,459 after adding 132 net outlets.
What happened
Lenskart saw a ₹1,856.7 crore block deal as Alphawave was reportedly set to sell a stake. The eyewear retailer reported strong June-quarter growth, with profit
Key facts
- 2.9 crore shares (1.67% stake) traded for ₹1,856.7 crore
- Reported Alpha Wave sale: 1.2% stake at ₹630 per share, about ₹1,313 crore
- SVF II Lightbulb sold 5.4 crore shares for ₹2,887.9 crore on August 24
- Societe Generale ODI bought 1.07 crore shares for ₹688.92 crore at ₹641.75 per share
- June-quarter net profit: ₹221.84 crore, up from ₹60.08 crore
- June-quarter revenue: ₹2,714.18 crore, up 43.3% YoY
- 132 net new stores added; active network reached 3,459 stores
- Market capitalisation: about ₹1.12 lakh crore
Why this matters
Lenskart’s expanding 3,459-store network and profitable growth strengthen its strategic position as it evaluates partnerships, acquisitions, or market-expansion opportunities.
What to watch
- Block-deal price versus prevailing market price and disclosure of the eventual buyers.
- Subsequent exchange filings indicating further sales by Alphawave or other pre-IPO investors.
- Quarterly revenue growth, EBITDA/net-profit margin and operating cash-flow conversion after rapid store additions.
- Same-store sales growth, sales per store and payback periods for the 132 net new outlets.
- Inventory turns, discounting intensity and customer-acquisition costs, particularly across online channels.
- Evidence that international expansion or new-format stores are contributing profitably rather than consuming capital.
- Management is likely to emphasize same-store sales growth, store-level profitability and online-to-offline customer economics in upcoming disclosures.
- The company may accelerate expansion in underpenetrated Indian cities and selectively add international stores, using its larger footprint to improve lens, frame and private-label sourcing leverage.
- Other early financial investors may assess partial exits if block-deal demand and trading liquidity remain strong.
- Institutional ownership could broaden if the block was placed with long-only funds rather than short-term financial buyers.