Getty ImagesNEW DELHI: Kedaara Capital, one of India’s largest home-grown private equity firms, has invested a shade over $55 million (about Rs 392 crore) in eyewear solutions company Lenskart Solutions.
According to documents filed by the company with the Registrar of Companies, and accessed by business intelligence platform Tofler, it has issued 6.143 million Series F compulsorily convertible cumulative preference shares at a premium of Rs 636.06 per share, to two entities operated by the PE firm—Kedaara Capital Fund-II and Mauritius-registered Kedaara Norfolk Holdings.
While the valuation, post the closure of the latest round, could not be immediately ascertained, the developments come at a time when Kedaara Capital is also in talks to buy shares in the omnichannel eyewear retailer through a secondary deal, valuing the company at $1billion.
Earlier this month ET, citing sources, had reported that two of Lenskart’s existing investors PremjiInvest and early backer Chiratae Ventures were among those likely to partially liquidate their holdings as part of the large secondary transaction that have been pegged at $100 million.
The investment in Lenskart is Kedaara Capital’s first bet in the country’s broader consumer technology sector, having largely focused on manufacturing, consumer and financial services segments thus far.
According to documents filed by the company with the Registrar of Companies, and accessed by business intelligence platform Tofler, it has issued 6.143 million Series F compulsorily convertible cumulative preference shares at a premium of Rs 636.06 per share, to two entities operated by the PE firm—Kedaara Capital Fund-II and Mauritius-registered Kedaara Norfolk Holdings.
While the valuation, post the closure of the latest round, could not be immediately ascertained, the developments come at a time when Kedaara Capital is also in talks to buy shares in the omnichannel eyewear retailer through a secondary deal, valuing the company at $1billion.
Earlier this month ET, citing sources, had reported that two of Lenskart’s existing investors PremjiInvest and early backer Chiratae Ventures were among those likely to partially liquidate their holdings as part of the large secondary transaction that have been pegged at $100 million.
The investment in Lenskart is Kedaara Capital’s first bet in the country’s broader consumer technology sector, having largely focused on manufacturing, consumer and financial services segments thus far.
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