Alpha Wave Ventures sold 2.94 crore shares in Lenskart through multiple block deals, raising ₹1,856.8 crore, according to NSE data. The shares were sold at ₹630 apiece, representing nearly 1.7% of Lenskart's stake. This transaction took place in August 2026 as part of early backers reducing their holdings in the omnichannel eyewear company, inc42.com reported.
The shares were acquired by several institutional investors, with the National Pension System (NPS) Trust emerging as the largest buyer, purchasing 78.6 lakh shares for about ₹495 crore. Other notable buyers included ICICI Prudential Mutual Fund, which bought 60.3 lakh shares for ₹380 crore, Whiteoak Capital Mutual Fund, Redwheel, and Morgan Stanley. Alpha Wave Ventures held a 3.42% stake, or 5.9 crore shares, in Lenskart at the end of June 2026.
This sale follows a trend of early investors offloading stakes in Lenskart. Recently, SoftBank sold shares worth ₹2,887.9 crore, and Temasek offloaded a 2.05% stake for ₹1,934 crore. In June, Abu Dhabi Investment Authority also sold 4 crore shares in the company. These transactions indicate a wave of stake dilution by early backers in the listed eyewear firm, reflecting shifts in investor strategy and liquidity needs.
Alpha Wave Ventures' stake sale adds to the liquidity in Lenskart's shares, with the company now seeing significant institutional participation from entities like NPS Trust and ICICI Prudential Mutual Fund. The venture capital firm’s holdings have decreased from 3.42% at the end of June, following the ₹1,856.8 crore block deal executed this month.