Len­skart gets

The Times of India (New Delhi edition) - - Times Global - TIMES NEWS NET­WORK

Ben­galuru: Eye-wear re­tailer Len­skart is rais­ing Rs 392 crore ($55 mil­lion) from home grown pri­vate eq­uity firm Kedaara Cap­i­tal, ac­cord­ing to the lat­est reg­u­la­tory doc­u­ments. Len­skart, which sells its prod­ucts through on­line and off­line chan­nels, will be val­ued at around Rs 8,200 crore ($1.15 bil­lion).

Len­skart is is­su­ing over 60 lakh com­pul­so­rily-con­vert­ible-cu­mu­la­tive-pref­er­ence shares to Kedaara’s two en­ti­ties at a per share value of over Rs 638, the doc­u­ments sourced from busi­ness in­tel­li­gence firm Tofler showed.

This is said to be part of a bigger fi­nanc­ing round for the Farid­abad-based com­pany, which could be of about $400 mil­lion (Rs 2,841 crore), in­clud­ing fresh in­vest­ment and se­condary share pur­chase. TOI had re­ported last month that Ja­panese in­ter­net and tele­com ma­jor SoftBank is in ad­vanced stages


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