Eyewear firm Lenskart Options Pvt is claimed to be hiring arrangers like Kotak Mahindra Financial institution Ltd. and Morgan Stanley for a $1 billion Preliminary Public Providing (IPO) this yr, in accordance with a Bloomberg report which cited unnamed sources.
Lenskart CEO Peyush Bansal and boAt co-founder Aman Gupta with founders of Tramboo Sports activities.(X/Tramboo Sports activities)
HT could not independently confirm the knowledge.
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Lenskart could search a valuation of $8 billion and different banks may be a part of to work on the IPO.
Nevertheless, the concerns are presently ongoing with no last choice made to this point, due to which particulars like IPO measurement and firm valuation could fluctuate, the report learn.
Lenskart, based in 2010 is backed by Masayoshi Son’s SoftBank Group, the Abu Dhabi Funding Authority, KKR & Co., Temasek Holdings Pte and PremjiInvest.
Whereas it was worthwhile previously, it incurred losses of about ₹10 crore regardless of pulling ₹5,427-crore revenues within the monetary yr 2023-24, in accordance with a Moneycontrol report.
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The corporate even lately employed former Oyo chief monetary officer (CFO) Abhishek Gupta as its CFO.
If the IPO plans do fructify, Lenskart will be a part of the likes of different new age companies similar to Swiggy, Zomato and Paytm to checklist on the bourses.
Lenskart’s IPO plan comes at a time when India’s major market is booming. As many as 25 startups need to make their inventory market debuts in 2025, together with fast commerce big Zepto, development supplies platform Infra.market, AI unicorn Fractal, and edtech startup PhysicsWallah, in accordance with the report.
What’s extra is that every one of them are focusing on an IPO measurement across the $500 million vary.
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In the meantime, different startups similar to Zetwek, SoftBank-backed OfBusiness, and fintech unicorn Pine Labs, need to increase $1 billion from their IPOs sooner or later, in accordance with the report.
In 2024, 13 such startup IPOs took place together with Ola Electrical, Swiggy, and FirstCry, collectively elevating over ₹29,000 crore (about $3.4 billion).