Lenskart has initiated talks with bankers to pitch for an IPO, with the Peeyush Bansal-led company looking to raise anywhere from $750 Mn to $1 Bn
The omnichannel eyewear retailer is eyeing a valuation of $7-8 Bn through its IPO and is likely to list on the Indian bourses toward FY26-end
The Peeyush Bansal-led company reported a net loss of INR 10 Cr in FY24 on an operating revenue of INR 5427.7 Cr
Omnichannel eyewear retailer LensKart is gearing up for its initial public offering (IPO), following in the footsteps of several new-age tech firms like Zepto, OfBusiness, Pine Labs, Razorpay, boAt, CarDekho and Captain Fresh that are looking go public in near future.
Lenskart has initiated talks with bankers to pitch for an IPO, with the Peeyush Bansal-led company looking to raise anywhere from $750 Mn to $1 Bn, Monecontrol reported, citing sources.
The report further said that Lenskart is eyeing a valuation of $7-8 Bn through its IPO and is likely to list on Indian bourses toward the end of the financial year 2025-26 (FY26).
Founded in 2010 by Bansal, Amit Chaudhury and Sumeet Kapahi, Lenskart is an omnichannel eyewear retailer. Besides India, it has presence in the UAE, Singapore and Japan among others.Â
The company has more than 2,500 stores, of which around 2,000 are in India. It claims to have a customer base of 2 Cr.
Lenskart narrowed its net loss by 84% to INR 10 Cr in FY24 from INR 64 Cr in the previous year. Operating revenue jumped 43% to INR 5,427.7 Cr during the year under review from INR 3,788 Cr in FY23.Â
(The story will be updated soon)
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