Lenskart Subsidiary Acquires 29.24% Stake in Korea's iiNeer Corp for KRW 3 Billion
Lenskart Singapore will invest KRW 3,000,000,000 (approx. ₹186 million) to acquire a 29.24% stake in Korea-based iiNeer Corp., Ltd. The deal, focused on lens-edging equipment technology, is expected to complete by January 31, 2026.
The investment is strategic and aims to enhance in-house capabilities, which could have a medium-term impact on operational efficiency and cost structure. However, the amount is relatively small compared to Lenskart's overall scale.
The acquisition of a strategic stake in a technology-focused company is expected to improve operating efficiencies and reduce capital expenditure, indicating a positive development for Lenskart.
Lenskart Solutions Limited announced that its wholly owned subsidiary, Lenskart Singapore, has approved an investment of KRW 3,000,000,000 (approximately ₹186 million) to acquire a 29.24% stake in iiNeer Corp., Ltd., a company based in the Republic of Korea. The acquisition, approved at a Board of Directors meeting on December 24, 2025, aims to bolster Lenskart's proprietary capabilities in core equipment manufacturing, specifically lens-edging systems, which include edgers, tracers, and blockers.
This strategic investment in iiNeer, a startup focused on technology-enabled eye-testing and lens-cutting equipment, is expected to enhance operating efficiencies and reduce future equipment capital expenditure for Lenskart. The transaction is structured as a cash consideration for the acquisition of 123,945 preference shares in iiNeer.
The acquisition is anticipated to be completed by January 31, 2026. iiNeer Corp., Ltd. was incorporated on March 26, 2020, and operates in the Optical Machinery Manufacturing industry. For the calendar year 2024, iiNeer reported a turnover of KRW 177,768,000.
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Lenskart Solutions Limited filed this with the NSE as a statutory disclosure, categorised under acquisition. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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