India, Oct. 12 -- Shares of Lenskart Solutions fell as much as 5% during intraday trade to hit a low of Rs.643.80 on the BSE today as a proposed stake sale by early investor Alpha Wave Ventures weighed on the stock.

At 13:43 IST, the stock was trading 4.07% lower at Rs.650.15. Its market capitalisation of Rs.1,13,098.38 Cr.

As per media reports, Alpha Wave Ventures is looking to sell up to 1.6% of its stake in Lenskart for as much as Rs.1,691 Cr, with the offer priced at a floor of Rs.640 per share. The floor price is at a 5.6% discount to the stock's closing price of Rs.677.65 on October 9.

The proposed sale comprises 15.1 Mn shares, or a 0.9% stake, with an option to sell another 11.3 Mn shares, equivalent to 0.7%. If the investor se...