Eyewear retailer Lenskart Solutions Ltd has approved a major corporate restructuring, merging two wholly owned subsidiaries into the parent company while simultaneously greenlighting a new joint venture with Chinese eyewear firm Mingfeng Glassesworld Ltd (MGL) to strengthen its India business.
In a regulatory filing on Thursday, Lenskart’s board confirmed the amalgamation of Dealskart Online Services Pvt Ltd and Lenskart Eyetech Pvt Ltd into Lenskart Solutions Ltd. Dealskart, which handles manpower services, fixed asset leasing, and other support functions for Lenskart’s retail network, posted a turnover of Rs 624.8 crore as of March 31, 2026. Lenskart Eyetech, focused on training services for group personnel, reported a smaller turnover of Rs 31.2 crore. By comparison, parent entity Lenskart Solutions recorded Rs 5,247.8 crore in turnover over the same period.
The company said the merger is intended to simplify its group structure by reducing the number of entities and consolidating operations, ultimately unlocking efficiencies and operational synergies.
Alongside the merger, Lenskart’s board also cleared the incorporation of a new joint venture in India with MGL, a China-based eyewear manufacturer. Under the arrangement, Lenskart will hold an 80% stake in the JV, with MGL owning the remaining 20%. The venture will launch with an initial paid-up equity capital of Rs 1 lakh, split into 10,000 equity shares of Rs 10 each – Lenskart subscribing to 8,000 shares worth Rs 80,000, and MGL contributing Rs 20,000 for its 2,000 shares.
The moves signal Lenskart’s continued push to consolidate operations while expanding manufacturing and sourcing partnerships in the India eyewear market.
