Lenskart looks to raise $1 billion through IPO, calls on bankers: Report

The report said the Peyush Bansal-led company aims for a valuation of around $7 billion to $8 billion. Its shares will likely be listed on the National Stock Exchange (NSE) and the BSE by the end of the financial year 2025-26.

If the listing plans succeed, the eyewear major will join the likes of One 97 Communications (Paytm), Zomato, and Swiggy, which have been listed on stock exchanges.

Lenskart cuts losses by 84%, revenue jumps 43% in FY24

According to the business intelligence platform Tofler, Lenskart posted a loss of ₹10.15 crore in the financial year 2024, which is 84% lower than ₹63.7 crore loss reported in the previous fiscal year.

The revenue from operations surged 43% to ₹5,427.7 crore in FY24, compared to ₹3,788 crore in FY23. Total income jumped 42% year-on-year (YoY) to ₹5,609 crore, while expenses increased 37.8% to ₹5,549 crore.

In June 2024, Lenskart raised $200 million in secondary investment from Fidelity Management and Research Co and Tamasek, bringing its funding secured in the past 18 months to around $1 billion.

Lenskart runs more than 2,500 stores, with nearly 2,000 located in India.

Last month, SEBI cleared the IPO proposal of electric two-wheeler maker Ather Energy. The proposed initial share sale consists of new equity shares valued at ₹3,100 crore and an offer for sale (OFS) of 2.2 crore shares.

Under the OFS, 3State Ventures Pte Ltd, National Investment and Infrastructure Fund II, Caladium Investment Pte Ltd, IITM Incubation Cell and IITMS Rural Technology and Business Incubator will offload their stake.

The money raised will be used for capital expenditures to establish an electric two-wheeler plan in Maharashtra, invest in research and development, loan repayment, marketing initiatives, and general corporate purposes.