In a noteworthy milestone, the Competition Commission of India (CCI) has granted approval for the acquisition of a specific stake in Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP, as conveyed through an official press release from PIB Delhi on 3 October. The proposed transaction involves Kedaara Capital Fund III securing approximately 1.74% of the fully diluted issued share capital of Lenskart Solutions Private Limited. Kedaara Capital Fund III LLP, recognized as the acquirer, is a private equity fund registered as a Category II Alternative Investment Fund with a focus on strategic investments. Lenskart, the target works for manufacturing and selling of eyewear products in India. It is a pivotal step as the acquirer believes in the potential of the target to grow substantially. A detailed order is awaited which would provided detailed insights into the framework.
