The shares of Lenskart Solutions dropped around 1.5% on Friday after 2.95 crore shares worth Rs 1,857 crore were traded in the block deal, with Alpha Wave Ventures likely being one of the sellers.

The block deal was done at Rs 630 apiece, implying around 2% discount to the stock’s previous closing price of Rs 640.6 apiece. The shares of the company dropped to Rs 630.10 apiece on BSE on Friday morning.

Alpha Wave Ventures was set to sell up to 2.1 crore shares or 1.2% stake in the company worth Rs 1,313 crore through a block deal at a floor price of Rs 630 apiece. The transaction is entirely secondary, meaning Lenskart itself is not issuing new shares and will not receive the sale proceeds.

Alpha Wave Ventures II, LP held 2.12 crore shares, representing a 1.22% stake in Lenskart Solutions as at the end of the quarter which ended on June 30, 2026. Spark Institutional Equities and Kotak Securities are handling the deal. The lock-in period is 45 days.

This comes days after SoftBank sold shares worth about Rs 2,888 crore in eyewear retailer Lenskart through a block deal on Monday. SoftBank sold 4.5 crore shares, or about a 2.6% stake in Lenskart, at Rs 641.75 apiece, exchange data showed.

Also read | Lenskart shares block deal: Alpha Wave Ventures II likely to sell 1.2% stake worth Rs 1,313 crore

This comes after a sharp spike in Lenskart shares. The stock had debuted on stock market debut in November 2025 after raising Rs 7,278 crore through a combination of a fresh issue of and an offer for sale by promoters and existing investors. The company's shares had listed at Rs 395 per share on NSE, representing a 1.75% discount to the issue price of Rs 402. On the BSE, the shares opened at Rs 390, a 3% discount to the issue price.

The shares have surged around 16% in one month, and 46% in 2026 so far. At Thursday's closing price of Rs 639.60, Lenskart shares were about 59% above their IPO issue price.

What lies ahead for Lenskart shares?

Elara Capital believes Lenskart has built one of India’s most differentiated retail models by creating a full-stack eyewear ecosystem spanning the entire value chain. The brokerage draws a parallel with Titan Company’s jewellery business, arguing that Lenskart could steadily compound market share gains and emerge as the category-defining leader in eyewear, much as Tanishq did in jewellery.

Jefferies has maintained its Buy rating on Lenskart and raised its target price to Rs 680. The brokerage said Q1FY27 further strengthens the company’s growth and margin expansion story. Market creation remains a key priority, with supply rather than demand emerging as a constraint in India, reflected in around 70,000 daily eye tests.

Lenskart has also strengthened its presence at the lower end with a fully loaded Rs 500 product, while premiumisation is emerging as another growth driver. Jefferies believes improving margins in the international business should address a key investor concern and sees potential for Meller to become the “Ray-Ban of the future.”

Morgan Stanley has an Overweight rating and a target price of Rs 666. The brokerage said Lenskart delivered another quarter of strong performance in Q1, with the beat driven largely by the international business. Strong performance, optimistic management commentary, and higher earnings estimates support its expectation of continued stock outperformance.

Also read | From IPO mockery to Rs 1 lakh crore m-cap: Why investors are still betting on Lenskart’s vision