Lenskart, an India-based eye-wear retail company, will be is raising Rs 392 crore (approx. $55 million) from private equity firm Kedaara Capital, a newspaper reported.
Quoting to the source documents from Tofler, the Times of India, on Monday, reported: “Lenskart, is issuing more than 60 lakh compulsorily convertible-cumulative-preference shares to Kedaar’s two entities at the share price of Rs 638 per share.”
“The Private equity firm which has backed companies like Mahindra Logistics, AU Small Finance Bank, Manyavar, and others.”
“Will, also allow the PE firm to purchase the shares of lenskart’s existing investors for an additional $100 million, in secondary share sales,” the newspaper further stated.