Alpha Wave Trims Lenskart Holding as Institutions Buy ₹1,857 Cr Stake

Alpha Wave Ventures has sold Lenskart shares worth ₹1,856.8 crore through multiple block deals, becoming the latest early investor to trim its holding in the listed eyewear company. The venture capital firm offloaded 2.94 crore shares at ₹630 apiece, representing roughly 1.7% of Lenskart.

The shares were absorbed by a wide group of domestic and global institutional investors. National Pension System Trust emerged as the largest buyer, purchasing 78.6 lakh shares for nearly ₹495 crore, while ICICI Prudential Mutual Fund acquired 60.3 lakh shares worth around ₹380 crore. WhiteOak Capital, Morgan Stanley and several other institutions also participated.

Alpha Wave held around 3.42% of Lenskart at the end of June 2026 before the transaction. Its partial exit follows a series of sizeable stake sales by Lenskart’s early investors. SoftBank recently sold shares worth ₹2,887.9 crore, while Temasek offloaded a 2.05% stake for around ₹1,934 crore. ADIA had also sold shares worth ₹1,960 crore in June.

The exits come as Lenskart’s stock continues to perform strongly, gaining 14.6% over the past month and more than 41% year-to-date. Several brokerages have also raised their target prices following stronger operating performance. In Q1 FY27, Lenskart’s consolidated net profit surged 273% year-on-year to ₹228.4 crore, while operating revenue increased 43% to ₹2,714.2 crore.

For Lenskart, the latest block deals highlight a familiar shift after a successful public listing: early venture investors are using stronger valuations to realise returns, while larger public-market institutions are taking their place. The continued institutional buying suggests that investor exits are not necessarily weakening demand for the eyewear company — but are instead reshaping its shareholder base as it matures in the public markets.