Lenskart Approves Merger of Subsidiaries and New Joint Venture

Lenskart Solutions Limited's Board of Directors has approved a Scheme of Amalgamation where its wholly-owned subsidiaries, Dealskart Online Services Private Limited and Lenskart Eyetech Private Limited, will merge with and into Lenskart Solutions Limited. This amalgamation is subject to statutory and regulatory approvals. Additionally, the company approved the incorporation of a Joint Venture in India with China-based Mingfeng Glassesworld Limited (MGL) to manufacture metal spectacle frames, aiming to enhance manufacturing capabilities and supply chain efficiencies. The Scheme of Amalgamation falls under SEBI LODR Regulations, exempting it from obtaining a No-Objection Letter from stock exchanges.