Lenskart raises Ajna stake to 9% with $840,000 AR bet
What's the deal? Lenskart Solutions acquired an additional 1.80% stake in Dimension NXGDealroom has a profile for this one. Try Dealroom →, known as AjnaDealroom has a profile for this one. Try Dealroom →, for ₹79.97 million (about $840,000) in cash. The transaction was completed on September 13, 2026, lifting Lenskart's aggregate holding in the associate entity from 7.21% to 9.01% of fully diluted capital.
What's the endgame? Ajna develops smart glasses software and makes augmented and mixed reality solutions. Lenskart said the deal supports technology-led opportunities in smart eyewear.
Why now? The latest purchase follows two earlier transactions this year: a 0.68% stake on February 26, 2026, and a 1.69% stake on July 4, 2026. Combined with an initial 4.84% holding, the three deals mark a 4.17% aggregate increase costing ₹185 million.
By the numbers: Ajna's turnover has fallen for three straight years, from ₹159.68 million in FY23-24 to ₹127.91 million in FY24-25 and ₹103.64 million in FY25-26. Lenskart has increased its stake despite the decline, a bet on long-term AR/MR potential rather than current revenue.
What could go wrong? Peyush Bansal, Lenskart's promoter and managing director, sits on Ajna's board, making this a related party transaction under Securities and Exchange Board of India (SEBI) listing rules. Lenskart confirmed the deal was struck on an arm's length basis.
The signal: The steady stake-building points to Lenskart positioning itself as a tech-led eyewear player rather than a pure retailer, wagering on extended reality and AI even as the target's top line shrinks.
Image credit: Generated with Gemini
