Eyewear retailer Lenskart has approved the merger of two wholly owned subsidiaries into the parent company as part of its strategic restructuring efforts. According to a stock exchange filing, the company's board approved a Scheme of Amalgamation under which Dealskart Online Services Pvt Ltd and Lenskart Eyetech Pvt Ltd will merge with Lenskart Solutions Ltd. The amalgamation became effective April 1, 2026, as reported by Lenskart Solutions. The board approved this scheme at its meeting held on July 2, 2026, marking the final approval for the consolidation process. The amalgamation involves two wholly owned subsidiaries and falls under schemes that are exempt from obtaining a No-Objection Letter from the stock exchanges.
Separately, Lenskart's board approved the incorporation of a joint venture company in India with China's Mingfeng Glassesworld Ltd (MGL). The proposed joint venture will manufacture metal spectacle frames in India as part of a strategic partnership between the two companies. Under the proposed arrangement, Lenskart will hold an 80% stake in the joint venture, while MGL will own the remaining 20%. The joint venture will be incorporated as Lenskart Metalframes Private Limited with an initial paid-up equity capital of ₹1 lakh, comprising 10,000 equity shares of ₹10 each. Lenskart will subscribe to 8,000 equity shares worth ₹80,000, while MGL will invest ₹20,000 for its 2,000 equity shares. The partnership aims to strengthen its manufacturing capabilities, improve supply chain efficiencies, promote localisation of production and reduce dependence on imported metal spectacle frames. The requisite approval from the Government of India under Press Note 3 has already been obtained.
The manufacturing venture is expected to support faster production cycles and reduce reliance on overseas suppliers for metal eyewear frames, a key product category in Lenskart's portfolio. The joint venture will focus on the manufacturing, technology collaboration, and product development of metal spectacle frames. This partnership is intended to strengthen backward integration, enhance supply chain resilience, and reduce dependence on imports. The proposed joint venture will be engaged in the business of manufacturing metal spectacle frames in India with the objective of strengthening the Company's manufacturing capabilities, enhancing supply chain efficiencies, promoting localisation of manufacturing and reducing dependence on imports of metal frames. The move aligns with the company's broader strategy of expanding its domestic manufacturing footprint as it seeks to increase local production while improving control over quality, costs and supply chain resilience.
The amalgamation is expected to simplify the corporate structure, eliminate multiple entities, and generate cost efficiencies through the reduction of overheads and administrative expenditures. The accounting treatment will follow the Pooling of Interest Method as per Ind AS 103. As the transferor companies are wholly-owned subsidiaries, no shares will be issued as consideration, and the amalgamation will not alter the shareholding pattern of the listed entity. The scheme is subject to statutory and regulatory approvals, including sanctions from the National Company Law Tribunal (NCLT). These strategic moves aim to streamline the corporate structure and strengthen domestic manufacturing capabilities while improving operational efficiency across the group.
