Lenskart to invest around Rs 53 cr to increase stake in overseas arms

Eyewear firm Lenskart will invest approximately Rs 53 crore to increase its stake in overseas arms, Owndays and Lenskart Singapore, a company filing said on Wednesday.

The company will acquire 10,613 shares, or a 1 per cent, stake in Japanese arm Owndays, for about Rs 50 crore and 1,38,005 shares in Lenskart Singapore for around Rs 3 crore.

''The proposed acquisition pertains to approximately 10,613 shares at a consideration of JPY 77,426.03 per share. The acquisition pertains to 1 per cent of the fully diluted share capital of Owndays. Post this acquisition, the aggregate shareholding of the Company indirectly, in Owndays will increase to approximately 97.67 per cent of the fully diluted share capital of Owndays,'' the filing said.

Lenskart is carrying out the acquisition of an additional stake in Owndays to consolidate its ownership and strengthen its position as the controlling shareholder.

The investment in Lenskart Singapore pertains to funding Lenskart's international business operations and capital requirements in Singapore, according to the filing.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)