New Delhi: Lenskart Solutions Ltd on Tuesday said its wholly owned subsidiary, Lenskart Solutions Pte. Ltd, Singapore, has approved an investment of KRW 3 billion (around ₹18.6 crore) to acquire a 29.24% stake in South Korea–based iiNeer Corp.
In a regulatory filing, the company said the board of Lenskart Singapore cleared the investment at its meeting held on December 24, 2025, under Regulation 30 of the Sebi (Listing Obligations and Disclosure Requirements) Regulations.
iiNeer is a Korea-based startup focused on developing technology-enabled eye-testing and lens-cutting equipment, including lens-edging systems such as edgers, tracers and blockers. Lenskart said the investment is aimed at building proprietary optical hardware capabilities, which is expected to improve operating efficiencies and reduce capital expenditure on equipment over time.
The transaction involves the acquisition of 123,945 preference shares, translating into 29.24% of iiNeer’s fully diluted share capital, and will be executed through a cash consideration. The acquisition is expected to be completed by January 31, 2026.
According to the disclosure, iiNeer was incorporated in March 2020 and operates in the optical machinery manufacturing segment. The company reported a turnover of KRW 177.8 million in calendar year 2024. Lenskart also clarified that the acquisition does not fall under related-party transactions and does not require any regulatory approvals.
The move underscores Lenskart’s strategy to strengthen vertical integration across its supply chain as it scales operations in domestic and international markets, while reducing dependence on third-party equipment vendors.