Ratan Tata exits a winner from unicorn start-up Lenskart with 5x profit.
Tata will see a 28 times profit from his speculation of ₹10 lakh in eyewear retailer Lenskart from 2016. In any case, sources near Tata have affirmed to Business Insider that the profit from his speculation would be 4.6 occasions.
Tata has interests in more than 20 Indian new businesses in his ability including any semblance of Ola, Ola Electric, Cure. fit, FirstCry, Urban Company. As per Hurun Rich List, Tata's total assets is ₹6000 crore.
Tata's stake in the organization, the subtleties of which aren't known, will be taken over by a current financial backer in the startup.
The startup, which turned into a unicorn (a firm with a valuation of over a billion dollars) in December 2019 after a $231 million venture from Japanese firm SoftBank, is likewise supposedly set out toward the first sale of stock (IPO). It is likewise sponsored by financial backers including Kedaara Capital, Premji Invest, Chiratae Ventures among others.
Business Insider gave arriving at Lenskart for remarks a shot at the story. The duplicate will be refreshed with their reactions if and when we get something similar.
Established in 2008, by Peyush Bansal, Sumeet Kapahi and Amit Chaudhary, Lenskart had quickly extended with various stores. It has more than 535 stores the nation over.
Lenskart which has experienced something reasonable of difficulties en route with misfortunes mounting had as of late turned beneficial.