Lenskart shares drop 5% as reported block sale weighs on stock

what happened

Lenskart Solutions fell as much as 5% in Monday’s trading, October 12, as turnover surged and reports pointed to a possible block transaction by existing investor Alpha Wave Ventures LP. Businessworld, citing media reports, said the proposed sale could cover as much as 1.6% of the eyewear retailer’s equity at a minimum price of Rs 640 per share. By 9:32 am, 40.34 million shares had been traded across the BSE and the National Stock Exchange. The indicated price was 5.6% below the BSE close of Rs 677.65 on October 9.

The initial portion was reported at up to 15.1 million shares, equal to 0.9% of Lenskart’s equity, with a further 11.3 million shares, or 0.7%, available under an additional option. If the full 26.4 million shares were sold, the transaction would be worth about Rs 1,691 crore. The base component was estimated at roughly Rs 950 crore and the extra allocation at around Rs 725 crore. Alpha Wave Ventures LP reportedly owned 3.42% of Lenskart; selling the entire proposed stake would leave it with 1.82%. The final value depends on the number of shares placed and the execution price.

On the BSE, Lenskart touched Rs 645 and stood at Rs 648.90 at 9:32 am, down 4%, while the BSE Sensex was 0.07% higher. Before the report, the shares had advanced almost 50% in calendar 2026, versus a 15% decline for the Sensex, and reached a record Rs 725 on September 18, 2026. JM Financial Institutional Securities forecasts 30% year-on-year revenue growth for July-September FY27, comprising 31% in India and 27% internationally. It sees pre-Ind-AS EBITDA margin widening by 200 basis points to 13.2%, with increases of 180 basis points in India and 300 basis points overseas. Jefferies cited Rs 500 spectacles with lenses, a focus on expansion over near-term profit, 70% product-level gross margins and a long-term EBITDA margin goal of 25%.

why it matters

The reported placement put pressure on a stock that had already gained strongly in 2026. Brokerage forecasts point to expected revenue growth and operating leverage, but they are estimates rather than reported quarterly results.

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