The Competition Commission of India (CCI) has approved the proposed acquisition of a minority stake in Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP. The transaction involves the purchase of around 1.74 per cent of the fully diluted shareholding of Lenskart by the investment fund.
Kedaara Capital Fund III LLP is a Category II Alternative Investment Fund registered with the Securities and Exchange Board of India (SEBI). The fund is part of Kedaara’s broader strategy of investing in high-growth businesses across different sectors in India.
Lenskart, the company in which the stake is being acquired, is one of the country’s leading eyewear firms engaged in manufacturing, distribution, and retailing of optical products such as eyeglasses, sunglasses, contact lenses, and accessories.
The company has built a strong presence through both online and offline channels and continues to expand its reach across markets.
The CCI, India’s fair-trade regulator, is mandated to assess mergers and acquisitions that could potentially affect competition in the market.
After reviewing the details of the proposed deal, the commission concluded that the acquisition of the minority stake would not have an adverse impact on competition in the eyewear sector.
With this approval, Kedaara Capital is set to move forward with the transaction and strengthen its exposure to the retail and consumer segment through its association with Lenskart.
The regulator stated that the detailed order regarding the approval will be issued separately. The clearance allows Kedaara to proceed with the acquisition while ensuring that the competitive balance of the market remains unaffected.
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