- The Paper.vc note added that the SVF deal will allow the company to scale operations to more locations in small towns in India, and also abroad
- Three months ago, Lenskart had received a total investment of ₹392 crore from two entities belonging to Kedaara Capital
According to information accessed by business intelligence platform, Paper.vc, the board of Lenskart Solutions Pvt Ltd passed a resolution on December 12, 2019, approving the allotment of 22.9 million Series G compulsorily convertible cumulative preference shares to SVF II Lightbulb (Cayman) Ltd, a Cayman Islands-based entity that appears to be an investment vehicle of Softbank Vision Fund.
“As part of the deal, SVF appears to be investing ₹1,645 crore by paying ₹714 per share (a 356x premium against face value) that we estimate gives the company a post-money valuation of $1.5 billion," Jayraj Patel, Analyst, Paper.vc, said, in a note
Three months ago, Lenskart had received a total investment of ₹392 crore from two entities belonging to Kedaara Capital.
