Lenskart’s Mega IPO! Will India’s Eyewear Giant Hit a $10 Billion Valuation?

Image Source: Money9live

Lenskart, India’s leading omnichannel eyewear retailer, has officially transitioned into a public limited company, marking a crucial step toward its anticipated $1 billion Initial Public Offering (IPO). The company, previously known as Lenskart Solutions Private Limited, has now been renamed Lenskart Solutions Limited, following a special board resolution.

Key Highlights:

IPO Preparation: Lenskart aims to raise $1 billion through a mix of primary and secondary capital, targeting a $10 billion valuation.
Financial Growth: The company’s operating revenue surged by 43% in FY24 to ₹5,428 crore, while net losses shrank by 84% to ₹10 crore, showcasing improved profitability.
Global Expansion: Lenskart operates over 2,500 stores worldwide, with 42% of its revenue coming from international markets like Japan, Singapore, Taiwan, and Thailand.
Investor Backing: The company secured $200 million in secondary funding in June 2024, with investments from Temasek and Fidelity Management, further strengthening its financial position.
Market Strategy: With strong offline and online presence, Lenskart is poised to capitalize on India’s booming eyewear market, ensuring better margins and supply chain control.