Lenskart to merge two arms into self, set up JV with Chinese firm
This story was originally published at 18:15 IST on 2 July 2026
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AHMEDABAD - Lenskart Solutions Ltd.'s board Thursday approved a scheme of amalgamation of its wholly-owned subsidiaries, Dealskart Online Services Pvt. Ltd. and Lenskart Eyetech Pvt. Ltd., with and into the company. The merger will simplify the group's corporate structure and improve operational efficiencies while reducing administrative and compliance costs, the company said in an exchange filing.
The company said the merger is proposed under sections 230-232 of The Companies Act, 2013. As both the transferor companies are wholly-owned subsidiaries, the scheme of amalgamation is exempt from obtaining a no-objection letter from the stock exchanges under Regulation 37 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations.
Separately, the board approved the incorporation of a joint venture company in India with China's Mingfeng Glassesworld Ltd. under a strategic partnership. The proposed joint venture will manufacture metal spectacle frames in India, enhance supply chain efficiencies, and reduce dependence on imports of metal frames. Upon incorporation, Lenskart will hold 80% of the paid-up equity share capital of the joint venture company and Mingfeng Glassesworld will hold the remaining 20%, the filing said.
For the quarter ended March, Lenskart had reported a consolidated net profit of INR 2 billion on revenues of INR 25.2 billion. Thursday, its shares ended at INR 530.40 on the National Stock Exchange, unchanged from Wednesday's close. End
Reported by Sunil Raghu
Edited by Shubhayan Bhattacharya
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