Eyewear startup Lenskart, which makes glasses, is now preparing to enter the stock market. Talks are going on with bankers for this. The company aims to raise $750 million to $1 billion through the IPO. According to information given by industry sources, the company is expecting a valuation of $7-8 billion and is likely to be listed by the end of the financial year 2026. A person familiar with the company's decision said, the IPO will be launched next month. Last year, an American brokerage company increased the valuation of Lenskart to 5.6 billion. Based on the company's valuation, this represents a 12 percent increase in the expected valuation of Lenskart by september 30.
The company suffered a loss of 10 crores in 2024
According to Entrackr's report, Lenskart's revenue increased by 43 percent from Rs 3,788 crore in the financial year 2023 to Rs 5,427.7 crore in 2024. Lenskart earns its profit through services like spectacle frames, lenses, goggles and eye checkup. According to Entrackr, due to cost effective management, Lenskart reduced its loss of Rs 63 crore in the financial year 2023 by 84 percent to Rs 10 crore in 2024.
Will compete with many big new generation companies
The company raised $200 million from Fidelity Management and Research Company and Temasek in june last year. If the company gets listed, it will join many big new generation companies listed on the stock market such as Swiggy, zomato and Paytm. Let us tell you that out of 2500 stores of Lenskart in Asia, 2,000 are in india alone.
Company's plan to build a mega factory
In april last year, the company's co-founder and CEO piyush Bansal posted on LinkedIn that the company is looking for 25 acres of land to build a mega factory, which is within 60 km radius of Kempegowda international Airport in Bengaluru. Lenskart also plans to build the largest eyewear manufacturing unit in telangana with an investment of Rs 1,500 crore.
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