Alpha Wave sells Lenskart stake for ₹1705cr, stock drops 4.33%
Business
Alpha Wave Ventures just sold a major chunk of its stake in Lenskart for ₹1,705 crore, offloading 2.64 crore shares at ₹645.31 apiece.
This move led to a 4.33% dip in Lenskart's stock price, which hit its lowest point since August 28.
Clearly, the markets noticed.
Alpha Wave Lenskart stake now 1.37%
After this sale, Alpha Wave's holding in Lenskart dropped from 2.88% to just 1.37%. The deal was done through open-market transactions.
Meanwhile, Dalmia Bharat Refractories picked up shares in Religare Enterprises, while Motilal Oswal Mutual Fund sold some off, but interestingly, Religare's stock still went up nearly 2% thanks to heavy trading on the NSE.