Lenskart In Talks With Bankers For $1 Billion IPO Pitch

Omnichannel eyewear retailer Lenskart is preparing for its initial public offering (IPO), joining a growing list of tech companies like Zepto, OfBusiness, Pine Labs, Razorpay, boAt, CarDekho and Captain Fresh that plan to go public soon.

The company has started discussions with bankers for its IPO, aiming to raise between $750 million and $1 billion, according to a media report. 

Lenskart is targeting a valuation of $7-8 billion through the IPO and is expected to list on Indian stock exchanges by the end of the financial year 2025-26.

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About Lenskart

Founded in 2010 by Peyush Bansal, Amit Chaudhury, and Sumeet Kapahi, Lenskart is an eyewear startup that has a presence in India, the UAE, Singapore and Japan. The company has over 2,500 stores, with approximately 2,000 located in India, and claims to have a customer base of 20 million.

The eyewear retailer has made significant financial improvements, narrowing its net loss by 84% to INR 10 crore in FY24, down from INR 64 crore the previous year. Its operating revenue grew by 43%, reaching INR 5,427.7 crore in FY24, up from INR 3,788 crore in FY23.

Lenskart's IPO plans come at a time when india is experiencing an IPO boom, with more than 20 homegrown tech startups preparing to list on the stock market in 2025.

Lenskart plans to build its biggest eyewear manufacturing facility in Telangana with an investment of around INR 1,500 crore. It has signed an agreement with the Telangana government to set up the facility at Fab City.

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