Lenskart Solutions shares climbed nearly 4% on Friday, closing at ₹471.35 on the BSE after the eye-care retailer disclosed fresh updates regarding its strategic acquisition in the Republic of Korea. The rally drew strong buying interest in an otherwise subdued market, keeping the stock in focus on the final trading day of the week.

Market Performance and Trading Activity

The stock demonstrated robust performance with significant trading volumes across both major exchanges. A combined 1.35 million equity shares were traded, valued at approximately ₹63.55 crores. Market capitalisation reached ₹80,324.49 crores as of December 26, reflecting strong investor confidence in the company's strategic expansion.

Korean Investment Details

The rally followed an exchange filing confirming that Lenskart Solutions Pte. Ltd., Singapore, a wholly-owned subsidiary, had approved a strategic investment in Korean optical technology. The board approved this investment to acquire a 29.24% stake in iiNeer Corp., Ltd., a company incorporated under Korean laws.

About iiNeer Corp.

iiNeer Corp., Ltd. is a Korea-based startup specializing in developing technology-enabled eye-testing and lens-cutting equipment. The company focuses on optical machinery manufacturing, including designing and selling optical lens-edging machines and related optical devices. This investment supports Lenskart's efforts to build proprietary capabilities in core equipment manufacturing.

Thailand Expansion Update

The Korean acquisition follows another significant overseas transaction disclosed earlier this week. On December 22, Lenskart Singapore's board approved the acquisition of 250,000 ordinary shares, representing 50% of Marco Optical (Thailand) Co., Ltd., also known as Sunrise Thailand, from Matt Optical Co., Ltd.

Strategic Benefits and Outlook

The Korean investment aligns with Lenskart Solutions' strategy to enhance operational efficiencies and reduce equipment capital expenditure over time. The acquisition focuses on building in-house optical hardware capabilities, particularly in manufacturing lens-edging systems and developing advanced eye-testing equipment. This strategic expansion into proprietary equipment manufacturing is expected to strengthen the company's competitive position in the optical retail market.

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.

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

Capital Structure

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.