M&A

M&A

Eyewear retailer Lenskart to invest Rs.53-Cr to up stake in 2 overseas arms

BSE Announcement   Business Line   Owndays  

Eyewear firm Lenskart will invest approximately INR 53 crore to increase its stake in its overseas subsidiaries, Tokyo-based Owndays and Lenskart Singapore. The investment is intended to consolidate the company’s ownership in the Japanese eyewear firm and support international business operations and capital requirements in Singapore.The transaction involves the acquisition of 10,613 shares in the Owndays for about INR 50 crore, which represents a 1% stake in the company. Following this acquisition, Lenskart’s indirect shareholding in Owndays will increase to approximately 97.67% on a fully diluted basis. Also, Lenskart will invest approximately INR 3 crore to acquire 138,005 shares in Lenskart Singapore.The capital deployed into the Singapore arm is earmarked for funding the company's international business operations and meeting specific capital requirements in the region.

In Jun 2022, Lenskart acquired majority stake in Owndays for a reported USD 400 million.