Kedaara Capital Fund III Limited Liability Partnership (LLP), a SEBI-registered Alternative Investment Fund (AIF), has received approval from the fair trade regulator, Competition Commission of India (CCI) to acquire a 1.74 per cent equity stake in eyewear unicorn Lenskart. This strategic investment reinforces Kedaara's commitment to India's growing eyewear industry.
Lenskart Solutions, a pioneer in eyewear products, and accessories, will benefit from Kedaara Capital's strategic investment, which will be on a fully diluted basis. Kedaara Capital Fund III LLP is part of the Kedaara Group.
In a related development, CCI has also approved Zonnebaars, an entity within the EQT group of investment funds, to acquire a majority stake in Indira IVF, a fertility clinic. This move follows EQT's acquisition of a 60 per cent stake in Indira IVF earlier this year.
These approvals highlight the CCI's role in ensuring fairness and transparency in business transactions and promoting competition within the marketplace. As India's eyewear industry expands rapidly, Kedaara Capital's investment in Lenskart Solutions underscores its confidence in the sector's growth potential.
Additionally, CCI has granted approval for the amalgamation of Spaceway Wellness into Indira IVF, further enhancing the clinic's comprehensive healthcare offerings.
The CCI's green light for these acquisitions reflects its dedication to facilitating responsible and competitive business practices, ultimately benefitting consumers and the Indian economy.