Lenskart Acquires 29.24% Stake in Korean Startup iiNeer for ₹186 Million

Lenskart Solutions has made a significant strategic investment in Korean optical technology, acquiring a substantial stake in iiNeer Corp. through its Singapore subsidiary. The Board of Directors of Lenskart Solutions Pte. Ltd., Singapore, a wholly-owned subsidiary of Lenskart Solutions Limited, approved the investment on December 24, 2025.

Investment Details

The acquisition involves a cash consideration of KRW 3,000,000,000 (Korean Won Three Billion), equivalent to approximately ₹186.00 million. This investment will secure 123,945 preference shares in iiNeer, representing 29.24% of the company's fully diluted share capital.

Parameter	Details
Investment Amount	₹186.00 million (KRW 3 billion)
Stake Acquired	29.24%
Share Type	123,945 preference shares
Expected Completion	January 31, 2026
Nature of Consideration	Cash

About iiNeer Corp.

iiNeer Corp., Ltd. is a Korea-based startup incorporated on March 26, 2020, under the laws of the Republic of Korea. The company operates in the optical machinery manufacturing sector, specializing in designing, manufacturing, and selling optical lens-edging machines and related optical devices.

Company Details	Information
Incorporation Date	March 26, 2020
Country	Republic of Korea
Authorized Share Capital	1,000,000 shares
Issued Share Capital	300,000 common shares
CY2024 Turnover	KRW 177,768,000
Industry	Optical Machinery Manufacturing

Strategic Objectives

This acquisition aligns with Lenskart Solutions' strategy to build proprietary capabilities in core optical equipment manufacturing. The investment focuses on enabling in-house optical hardware capabilities, particularly in manufacturing lens-edging systems that comprise edgers, tracers, and blockers.

The strategic benefits of this acquisition include:

Development of technology-enabled eye-testing equipment
Enhanced lens-cutting equipment capabilities
Improved operational efficiencies
Reduced equipment capital expenditure over time
Strengthened proprietary technology portfolio

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction does not fall within related party transactions, and no governmental or regulatory approvals are required for this acquisition. The investment represents a strategic move to enhance Lenskart Solutions' technological capabilities in the optical equipment manufacturing space through this Korean partnership.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-2.96%	+11.80%	+9.05%	+12.13%	+12.13%	+12.13%

Lenskart Solutions Limited has announced a strategic acquisition in the Thai eyewear market through its Singapore subsidiary. The Board of Directors of Lenskart Solutions Pte. Ltd., Singapore approved the acquisition of a 50% stake in Marco Optical (Thailand) Co., Ltd., also known as Sunrise Thailand.

Acquisition Structure and Investment Details

The acquisition involves purchasing 250,000 ordinary shares representing 50% of Marco Optical (Thailand)'s total issued share capital from Matt Optical Co., Ltd., an existing investor. The transaction creates a joint venture structure with equal shareholding between the parties.

Parameter:	Details
Acquisition Value:	USD 5.00 million
Total Investment Commitment:	THB 168.75 million
Shares Acquired:	250,000 ordinary shares
Shareholding Post-Acquisition:	50% each (Lenskart Singapore & Matt Optical)
Consideration Type:	Cash payment

Target Company Profile

Marco Optical (Thailand) Co., Ltd. operates in the eyewear manufacturing and trading industry. The company was incorporated on August 3, 2023, and has shown significant revenue growth in its brief operational history.

Financial Performance

Year:	Revenue (THB)
2023:	3,985.96
2024:	101,624.28

Capital Structure

Component:	Details
Authorised Share Capital:	THB 50.00 million
Issued Share Capital:	THB 50.00 million (fully paid-up)
Share Structure:	500,000 ordinary shares of THB 100 each

Business Operations and Objectives

The Thai entity operates across multiple business verticals within the eyewear and optical products sector. Its primary business activities include:

Manufacturing and trading in optical products including lenses, frames, and optical equipment
Trading, importing, exporting, and auctioning goods domestically and internationally
Dealing in electronic components, metal, plastic, and rubber products
Managing packaging materials and related items
Acting as agent, broker, or representative for various businesses
Holding shares or interests in limited and public companies

Investment Structure

The total investment commitment of THB 168.75 million comprises two components. The share purchase amount covers the acquisition of 250,000 ordinary shares, while the remaining amount will be infused as loans that may be converted into equity in the future. This structure provides flexibility for future capital requirements and business expansion.

Strategic Implications

The acquisition establishes Lenskart's presence in the Thai eyewear market through a joint venture model. The partnership with Matt Optical Co., Ltd. provides local market expertise while Lenskart contributes its operational capabilities and brand presence. The transaction does not fall within related party transactions, and no governmental or regulatory approvals are required for completion.