Lenskart Invests ₹53 Crore to Boost Stake in Owndays

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AuthorKavya Nair|Published at:
Lenskart Invests ₹53 Crore to Boost Stake in Owndays
Overview

Lenskart is investing about ₹53 crore to increase its ownership in Japanese eyewear retailer Owndays and its Singapore arm. This move will raise Lenskart's indirect stake in Owndays to 97.67% and fund Lenskart Singapore's global business.

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Lenskart, a major eyewear company, has announced a substantial investment of approximately ₹53 crore to strengthen its stake in two important overseas businesses: Japan's optical retailer Owndays and its Singapore subsidiary.

Consolidating Ownership

The investment includes purchasing 10,613 shares in Owndays, which represents a 1% increase in the company's total shares. This move aims to solidify Lenskart's control over Owndays, with its indirect shareholding expected to reach about 97.67% after the transaction. This is part of Lenskart's plan to better integrate Owndays into its worldwide operations.

Funding International Expansion

Of the total investment, around ₹3 crore will be directed to Lenskart's Singapore operations. This capital will support the growth of its international business and cover financial needs in Singapore. The deal, announced on Wednesday, specified a price of JPY 77,426.03 per share for the Owndays shares.

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