The Competition Commission of India (CCI) has approved acquisition of certain stake of Lenskart Solutions Private Limited (Target) by Kedaara Capital Fund III LLP (Acquirer).

The proposed combination relates the acquisition of approximately 1.74% of the issued share capital on a fully diluted basis of Lenskart Solutions Private Limited by Kedaara Capital Fund III LLP.

Acquirer is a private equity fund, registered with the Securities and Exchange Board of India as a Category II Alternative Investment Fund, and is engaged in the activity of investing in companies.

Target is a private limited company incorporated in India. In India, the Target undertakes the following businesses: (i) manufacture of eyewear products, including eyeglasses, sunglasses and eyewear accessories and sale (including by way of retail) of such manufactured products etc.; and (ii) wholesale trading of eyewear products.

Detailed order of the CCI will follow.

Competition clearance for minority acquisition in eyewear company by private equity fund, with detailed order pending under merger review. Approval was granted for Kedaara Capital Fund III LLP's proposed acquisition of approximately 1.74% of the fully diluted issued share capital of Lenskart Solutions Private Limited. The acquirer is a Category II Alternative Investment Fund engaged in investments; the target manufactures and retails and wholesales eyewear products, including eyeglasses, sunglasses and accessories. A detailed regulatory order will follow.