Lenskart Solutions said that its wholly owned subsidiaryLenskart Solutions Pte. Ltd., Singapore, would invest 3 billion Korean Won for acquiring 123,945 preference shares or 29.24% of the share capital of iiNeer Corp., Ltd.
At an exchange rate of Rs 0.062 per Korean Won, the acquisition sum totals to Rs 18.6 crore.
iiNeer is a Korea-based startup, which is focused on developing technology-enabled eye-testing and lens-cutting equipment. It had recorded a turnover of 177.77 million Korean Won in the calendar year 2024.
This acquisition enables the company to build in-house optical hardware capabilities, specifically for manufacturing lens edging systems that include edgers, tracers, and blockers.
By investing in these proprietary core equipment capabilities, the company expects to enhance operating efficiencies and reduce long-term capital expenditure on equipment.
Lenskart Solutions is a technology-led eyewear company involved in designing, manufacturing, branding and retailing prescription glasses, sunglasses, contact lenses and related accessories.
The company's consolidated net profit rose 19.60% to Rs 102.22 crore on a 20.77% increase in revenue to Rs 2096.15 crore in Q2 FY26 as compared with Q2 FY25.
The scrip rose 0.87% to currently trade at Rs 455.85 on the BSE.
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