According to media reports, omnichannel eyewear merchant Lenskart is discussing with private equity fund ChrysCapital to raise $100 million (Rs 828 crore). The talks on preferring up a stake are continuing, and the investment is yet to conclude.

If the deal ends, it would be amongst the leading investments in a new-age entity by ChrysCapital. It will take the aggregate ongoing funding round at Lenskart to about $500 million. The PE fund has supported internet corporations like Dream11, FirstCry, and Xpressbees.

The ongoing round is mainly a secondary share sale where shares will change hands from prevailing to new investors, and the money won’t go into the company’s reserves. The latest round may have a minor primary capital infusion. The investment is a captivating place at an estimation of $4 billion.

Secondary share sales are naturally carried out at a rebate to the initial valuation in primary fundraising. For example, in May 2022, fintech firm Razorpay made a subordinate share sale of $75 million at an evaluation of $6.5 billion after having raised capital formerly at a $7.5 billion valuation.

Lenskart has accompanied secondary share sales to pave the way for unfinished exits to stockholders like Chiratae Ventures. The company clocked about Rs 415 crore in December sales, of which Rs 183 crore came from its days.

Lenskart clocked decent sales progress, and the last financial year numbers show the regaining made after Covid-19. Lenskart expects its Bhiwadi (Rajasthan) plant to play a vital role in manufacturing close by and ship significant books.