The eyewear startup Lenskart is preparing for its massive IPO, hoping to raise between USD 750 million and USD 1 billion, according to sources cited by Moneycontrol. The company has consulted bankers about this.
According to the report, the Peyush Bansal-led company hopes to be valued between USD 7 billion and USD 8 billion. Its shares are expected to be listed by the end of the fiscal year 2025–2026 on both the BSE and the National Stock Exchange (NSE).
The major player in eyewear will join companies like One 97 Communications (Paytm), Zomato, and Swiggy that have been listed on stock exchanges if the listing plans are confirmed.
Lenscart financials
Lenskart reported a loss of Rs 10.15 crore in the fiscal year 2024, which is 84 per cent less than the Rs 63.7 crore loss recorded in the prior fiscal year, according to the business intelligence platform Tofler.
In FY24, operating revenue increased 43 per cent to Rs 5,427.7 crore from Rs 3,788 crore in FY23. While expenses rose 37.8 per cent to Rs 5,549 crore, total income increased 42 per cent year over year (YoY) to Rs 5,609 crore.
Latest funding round
With a USD 200 million secondary investment from Fidelity Management and Research Co. and Tamasek in June 2024, Lenskart has now raised about USD 1 billion in funding in the last 18 months.
Nearly 2,000 of Lenskart’s store out of a total of 2,500 locations are up running in India.
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Ather Energy, a manufacturer of electric two-wheelers, had its IPO proposal approved by SEBI last month. New equity shares worth Rs 3,100 crore and an offer for sale (OFS) of 2.2 crore shares make up the proposed initial share sale.
