Alpha Wave Ventures Sells ₹1,857 Crore Stake in Lenskart

Venture capital firm Alpha Wave Ventures has offloaded its stake in Indian eyewear giant Lenskart for approximately ₹1,857 crore (₹1,856.8 Cr) via multiple block deals. The firm sold 2.94 crore shares at a price of ₹630 per share, according to exchange data.

The buyers in these transactions included National Pension System (NPS) Trust, Bajaj Life Insurance, BofA Securities, and Goldman Sachs, among others. NPS Trust emerged as the largest buyer, acquiring shares worth nearly ₹495 crore, while ICICI Prudential Mutual Fund purchased shares valued at approximately ₹380 crore.

This sale reduces Alpha Wave Ventures' stake in Lenskart to roughly 1.7%. The VC firm held a 3.42% stake, equivalent to 5.9 crore shares, in the eyewear company as of the end of June 2026.

Alpha Wave Ventures is not the first early backer to reduce its holding in Lenskart recently. Japanese technology giant SoftBank previously divested Lenskart shares worth nearly ₹2,888 crore, and Temasek sold a 2.05% stake for approximately ₹1,934 crore last month. Abu Dhabi Investment Authority (ADIA) also sold 4 crore shares for around ₹1,960 crore.

The stake sales reflect investors capitalizing on Lenskart's recent stock performance. The company's shares have risen 14.6% in the past month and 41.2% year-to-date. This surge follows strong first-quarter results, which prompted several brokerages to increase their target prices for Lenskart. The company reported a 273% increase in net profit and a 43% rise in revenue year-over-year for the quarter.