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IPO-bound Lenskart buys 80% stake in Spain's Meller for Rs 407 crore
M & A Critique
|August 2025
Eyewear retail chain Lenskart, which has just filed its draft red herring prospectus for a public listing, eyewear brand Meller for Rs 407 crore (approximately €41.5 million).
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The company had previously acquired Japanese directto-consumer eyewear brand Owndays in August 2022. In 2024, it made a minority investment in Paris-based omnichannel eyewear brand Le Petit Lunetier, and in 2025, it made a minority investment in Ajna Lens, a Mumbai-based deeptech company building artificial intelligence (AI)-powered XR glasses.
According to the DRHP, Lenskart plans to raise Rs 2,150 crore in primary capital. The total IPO size is expected to be in the range of Rs 7,500-8,000 crore, including a secondary share sale by investors such as SoftBank and Alpha Wave.
The stake buy, made through Lenskart's Singapore-based subsidiary, is part of the company's strategic expansion into Europe and into Gen Z-focused product lines.
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