Lenskart, the Gurugram-based eyewear giant co-founded by Peyush Bansal, is on the cusp of a major milestone. Lenskart IPO could raise anywhere between USD 750 million to USD 1 billion, roughly translating to INR 850 crore.
Lenskart is planning to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) by the end of FY 2025-26. The groundwork is being laid with investor roadshows starting next month in February 2025. Lenskart isn’t merely peddling eyewear; it is crafting an experience by integrating digital platforms, mobile applications, and an extensive array of physical retail locations.
Numbers Behind Hype of Lenskart IPO
Let’s look at the numbers because they paint a vivid picture:
- Revenue Spike: A 43% jump in operating revenue in FY24, climbing to INR 5,427.7 crore from INR 3,788 crore the year before.
- Loss Reduction: Losses were cut dramatically by 84%, from INR 63.7 crore in FY23 to just INR 10.15 crore in FY24.
- Total Income: Up by 42% year-over-year to INR 5,609 crore, with expenses growing at a slower 37.8%, reaching INR 5,549 crore.
For potential investors, these figures are a green light, signalling Lenskart’s readiness for the public eye.
Recent Fundings Ahead Lenskart IPO
The last year and a half have been crucial. In June 2024, Lenskart secured a USD 200 million investment from Fidelity Management and Temasek, boosting its valuation to USD 5.6 billion. There’s talk of another secondary share sale that could push the valuation even higher, maybe up to USD 6 billion. From 2023 to early 2024, Lenskart’s valuation climbed from USD 4.5 billion to USD 5 billion, showing that investors are betting big on this brand.
The company has over 2,500 stores worldwide, with 2,000 in India alone. But their strategy is deeper than that. Lenskart leverages technology like AI for personalized experiences and virtual try-ons, setting them apart.
- Manufacturing Expansion: Lenskart invested INR 1,500 crore in a new manufacturing facility in Telangana, aiming to meet the skyrocketing demand.
- Acquisitions: By acquiring companies like Tango Eye and Owndays, they’ve not only boosted their tech but also their global presence.
- Global Growth: The company is eyeing both untapped Indian markets and international expansions.
Riding the IPO Wave
Lenskart IPO isn’t stepping into the primary market alone. 2024 saw a flurry of startups like Ola Electric and Swiggy going public, raising over INR 29,000 crore. The IPO calendar for 2025 is packed with names like Zepto and PhysicsWallah. Lenskart’s move could add more momentum to this vibrant scene.
But it’s not all smooth sailing. The eyewear market is very challenging, with domestic giants like Titan Eyeplus and international players like Warby Parker and Luxottica Group. Lenskart’s strategy, however, with its tech innovations, scale, and customer focus, gives it a unique advantage.
Final Words
Lenskart’s IPO isn’t just about raising funds; it’s about setting a new standard in the eyewear industry and showcasing the resilience and innovation of India’s startup ecosystem. As Lenskart steps into this new chapter, it’s not just about watching a company grow but seeing how it might lead the way for others in the market.
In 2024, the Indian primary market experienced notable activity, featuring 90 IPOs. Of these, 71 IPOs delivered positive returns. Despite this success, some challenges emerged, with 19 IPOs yielding negative returns. The average listing return for IPOs was an impressive 30.12%. These figures underscore the market’s potential for substantial gains and opportunities. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
