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NO
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HEADINGS
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DETAILS
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1.
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Sector
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Retail; eCommerce
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2.
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Announcement Date
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3.
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Completion Date
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23-Dec-2022
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4.
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Name of Client
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State Bank of India
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5.
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Investor Details
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State Bank of India | India
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6.
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Target Details
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Lenskart Solutions Private Limited | India
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7.
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Deal Description
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Primary investment by State Bank of India in Lenskart Solutions Private Limited (“Lenskart”) through participation in Series I1 round of investment. Lenskart is engaged in the: (a) primary business of manufacture and sale (including by way of retail) of eyewear products including eyeglasses, sunglasses, contact lenses, and eyewear accessories; and (b) secondary business of wholesale trading of eyewear products.
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8.
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Total Consideration
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USD 40 million for the entire round of investment
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9.
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Team Members
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The core team consisted of Vineet Shingal (Partner), Saloni Mehta (Senior Associate), Sagarika Chandel (Senior Associate), Bimbita Kateel (Associate), Kritika Parakh (Associate)
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10.
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Role of Firm
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Advised State Bank of India on its participation in Series I1 round of investment in Lenskart Solutions Private Limited by way of negotiating and finalising the transaction documents (ie, share subscription agreement and deed of adherence) and providing closing assistance.
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