Lenskart Solutions Pvt Ltd is raising Rs 1,645 crore ($231 million) in a Series G funding round led by Softbank Vision Fund (SVF). With this investment, the online eyewear retailer will be valued at $1.5 billion.
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 Rs 1,645 crore by paying Rs 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 Rs 392 crore from two entities belonging to Kedaara Capital.
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