Temasek Sells 2% Lenskart Stake for $202 Million
Singapore's state-owned investment firm Temasek has divested nearly 2% of its stake in Indian eyewear unicorn Lenskart. The sale reportedly amounted to $202 million.
Temasek, Singapore's state-owned investment firm, has sold a stake of approximately 2% in the Indian eyewear unicorn Lenskart for around $202 million. The transaction took place last Thursday, according to sources familiar with the matter.
The sale highlights continued investor interest in Lenskart, a company that has rapidly grown to become a dominant player in India's optical retail market. Lenskart offers a wide range of eyeglasses and contact lenses through its online platform and physical stores.
Founded in 2010, Lenskart has attracted significant backing from various international investors, achieving a valuation in the multi-billion dollar range. This marks a notable development in the company's funding history and investor relations.
The divestment by Temasek could signal a shift in the investment firm's portfolio strategy or a move to realize returns. However, it is not expected to impact Lenskart's operational trajectory or its ambitious expansion plans within the eyewear sector.