Investor seeks to sell stake valued at up to $137 million.

Alpha Wave Ventures II Looks to Sell Stake in Lenskart for Up to $137 Million

Alpha Wave Ventures II, a notable investor in Indian eyewear company Lenskart, is reportedly planning to sell a stake worth up to $137 million. This move comes as part of a broader trend of investor exits from the fast-growing optics and retail sector.

The stake being offered is approximately 1.2%, valued at around ₹1,313 crore (approximately $159 million). Lenskart, which has rapidly expanded its presence in India and beyond since its inception in 2010, is one of the leading online and offline eyewear retailers in the country, known for its innovative approaches to eyecare and shopping.

In recent trading activity, SoftBank also reduced its stake in Lenskart, selling nearly 2.6% for about ₹2,888 crore (approximately $350 million). Such divestitures by major investors indicate shifts in investment strategies as the company navigates post-pandemic recovery and increasing competition in the retail eyewear market.

Lenskart has been actively enhancing its retail strategy, focusing on expanding its physical store presence while also strengthening its online operations. As of 2023, the company operates over 750 retail outlets across multiple countries, including India and the Middle East.

Investors are keenly observing the companys market performance and growth potential, especially as it prepares for future expansions and innovations within the eyewear industry.