Lighthouse India Fund III, an affiliate of Lighthouse Advisors, has acquired a minority stake in Aqualite Industries, one of India’s leading footwear companies for Rs 250 crore. Aqualite will be using the funds raised from Lighthouse for marketing, capacity expansion, and growth plans. Aqualite is one of the country’s leading footwear firms and has manufacturing units located across Haryana and Rajasthan. It has a pan-India distribution network of 35,000 retailers, with a strong presence in the north and east India. It is expecting a turnover of over Rs 800 crore in the current financial year.