Lenskart, a leading eyewear startup, is gearing up for its initial public offering (IPO) and has invited bankers to pitch for the process. The company plans to raise between $750 million and $1 billion through the IPO. With a target valuation of $7-8 billion, Lenskart aims to go public by the end of the financial year 2026.
Recent reports suggest that Lenskart is fast-tracking its IPO plans. Earlier, it was believed the company would list within two years. However, the timeline appears to have accelerated due to significant investor interest and financial growth.
Rising Valuation and Recent Investments
Lenskart’s valuation is expected to increase significantly. In November 2024, it was reported that the company could reach a valuation of $6 billion if a secondary share sale worth $200-300 million takes place. The startup has already raised $200 million from Fidelity Management & Research Company and Temasek, boosting its valuation to $5 billion.
Over the past 18 months, Lenskart has secured nearly $1 billion in funding, even during challenging economic conditions in 2022-23. Major investors include KKR and the Abu Dhabi Investment Authority, showcasing strong confidence in the company’s growth potential.
Lenskart is also planning a secondary share sale, where new investors will buy shares from existing stakeholders. This process allows selling shareholders to gain proceeds directly. Investors such as Fidelity and Kedaara Capital have shown interest in this initiative. In 2023, Lenskart recorded $650 million in secondary transactions, highlighting the company’s robust market presence.
Operations in India and Abroad
Founded in 2010, Lenskart has grown into a global eyewear leader. The company operates over 2,500 stores, with 2,000 located in India. Lenskart is aggressively expanding into untapped markets across India while scaling its international operations in Asia.
The startup has also made strategic acquisitions to enhance its technology and product offerings. These include the AI-based computer vision startup Tango Eye and a stake in the Paris-based eyewear brand Le Petit Lunetier.
Lenskart’s upcoming IPO is a significant milestone in its journey. The funds raised will help the company strengthen its market position, drive innovation, and fuel its ambitious expansion plans. With a strong foundation of investments and a growing customer base, Lenskart is well-positioned to achieve its goals and become a dominant player in the eyewear industry.
