As many as 2.93 crore shares of Lenskart Solutions, or 1.67% of its equity, worth ₹1,895 crore changed hands at ₹647 per share via block deals on Monday, October 12.
The official buyers and sellers of the transaction are not yet known.
Over the weekend, sources told CNBC-TV18 on Sunday that Alpha Wave Ventures LP is likely to sell up to 1.6% equity in Lenskart Solutions for up to ₹1,691 crore at a floor price of ₹640. The floor price is a 5.2% discount to Lenskart’s closing price last Friday.
The base offer size of the deal was for 0.9% equity worth ₹966 crore with an upsize option of up 0.7% equity worth ₹725 crore, the sources had said.
The sellers will witness a 30-day lock-in period for further stake sale.
At the end of the June quarter, promoter entities held 17.53% stake in Lenskart, while public shareholders comprised 82.05%, as per data available on the stock exchanges. Of this, Alpha Wave Ventures LP held 3.42% stake in the company, of which it sold part of in August.
Alpha Wave Ventures last sold 2.95 crore shares of Lenskart, or 1.7% equity, in the company for ₹1,857 crore at an average price of ₹630 per share in a block deal on August 28. This was the second block deal for the month. The buyers included National Pension System, ICICI Prudential Mutual Fund and Whiteoak Capital Mutual Fund.
Three days prior, Softbank Vision Fund (SVF) II Lightbulb Cayman offloaded 4.5 crore shares of Lenskart worth ₹2,887.9 crore at an average price of ₹641.75 per share in block deals on the Bombay Stock Exchange (BSE). Societe Generale ODI bought 1.07 crore shares worth ₹688.92 crore.
On September 19, as many as 3.6 crore shares or 2.07% equity of Lenskart worth ₹2,468 crore changed hands at ₹688 per share in block deals. Prior to the transaction, sources had told CNBC-TV18 that Platinum Jasmine was likely to sell up to 3 crore shares or 1.7% equity in the firm worth ₹2,047.7 crore at a floor price price of ₹682.45 per share via block deals.
Lenskart Solutions reported its first quarter earnings on August 12. Its net profit surged to ₹222 crore from ₹60 crore, while its revenue was up 43.3% at ₹2,714.2 crore from ₹1,894.5 crore last year.
The company’s earnings before interest, taxes, depreciation and amortization (EBITDA) increased 75.1% to ₹588.5 crore from ₹336.1 crore and margin expanded to 21.7% from 17.7% in the year-ago period.
Shares of Lenskart Solutions were trading 4.6% lower atg ₹646.3 apiece at 9.20 am on Monday. The stock has fallen 6% in the past month but is up 47.8% this year, so far.
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