Lenskart IPO: Eyewear startup Lenskart is now preparing to enter the stock market. Talks are going on with bankers for this. The company aims to raise $750 million to $1 billion through IPO. According to information given by industry sources, the company is expecting a valuation of $7-8 billion and its listing is likely to happen by the end of the financial year 2026.
A person familiar with the company’s decision said, the IPO will be launched next month. Last year, an American brokerage company had increased the valuation of Lenskart to Rs 5.6 billion. Based on the company’s valuation, this represents a 12 percent increase in the expected valuation of Lenskart by September 30.
The company suffered a loss of Rs 10 crore in 2024
According to the report of Entrackr, Lenskart’s revenue increased by 43 percent from Rs 3,788 crore in the financial year 2023 to Rs 5,427.7 crore in 2024. Lenskart earns its profits through services like spectacle frames, lenses, goggles and eye checkup. According to Entrackr, due to cost-effective management, Lenskart reduced the loss of Rs 63 crore in the financial year 2023 by 84 percent to Rs 10 crore in 2024.
Will give competition to many big companies of the new generation
The company raised $200 million from Fidelity Management and Research Company and Temasek in June last year. If the company gets listed, it will join many big new generation companies which are listed on the stock market such as Swiggy, Zomato and Paytm. Let us tell you that out of 2500 stores of Lenskart in Asia, 2,000 are in India alone. .
Company plans to build mega factory
In April last year, the company’s co-founder and CEO Piyush Bansal had posted on LinkedIn that the company was looking for 25 acres of land to build a mega factory, which would be within a radius of 60 kilometers from Bangalore’s Kempegowda International Airport. Lenskart also plans to set up the largest eyewear manufacturing unit in Telangana with an investment of Rs 1,500 crore.
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