Eyewear company Lenskart Solutions Pvt is reportedly planning to launch an Initial Public Offering (IPO) worth $1 billion this year. According to a Bloomberg report, the company has enlisted financial giants Kotak Mahindra Bank Ltd. and Morgan Stanley to arrange the IPO. However, the details of the IPO, including its final size and company valuation, are still being discussed and may change, as no final decision has been made yet.
Lenskart is aiming for a valuation of $8 billion, and other banks may join the effort to manage the IPO, the report added.
Founded in 2010, Lenskart has grown significantly and attracted major investors, including SoftBank Group, the Abu Dhabi Investment Authority, KKR & Co., Temasek Holdings Pte, and PremjiInvest. Despite being profitable in earlier years, the company posted a loss of ₹10 crore for the financial year 2023-24, although it reported impressive revenues of ₹5,427 crore during the same period.
The company also recently appointed Abhishek Gupta, the former Chief Financial Officer (CFO) of Oyo, as its new CFO.
If Lenskart successfully goes ahead with the IPO, it will join a growing list of new-age companies like Swiggy, Zomato, and Paytm that have listed on the stock market in recent years.
The IPO plans come as India’s primary market is seeing strong activity, with 25 startups aiming for their stock market debuts in 2025. Notable names include Zepto, Infra.market, Fractal, and PhysicsWallah. These companies are also targeting IPO sizes of around $500 million.
In addition, other startups like Zetwek, SoftBank-backed OfBusiness, and fintech unicorn Pine Labs are reportedly planning IPOs of $1 billion in the future.
In 2024 alone, 13 startup IPOs raised more than ₹29,000 crore (about $3.4 billion), including major players like Ola Electric, Swiggy, and FirstCry.
-
-
-
-
-
-
