Lenskart’s Upcoming IPO Details

Lenskart is preparing to take a big step by going public. The company plans to file its Draft Red Herring Prospectus (DRHP) by May 2025, setting the stage for its much-anticipated IPO. It is aiming for a massive ₹1,00,000 crore valuation, which is double its last funding round. The IPO size is expected to be around ₹10,000 crore.

CEO Peyush Bansal and key investors are actively discussing the company’s valuation with bankers. The final figure will depend on market conditions as the IPO launch date gets closer. While some stakeholders are pushing for an even higher valuation, investors also need room to make gains after the listing.

Unlike many companies that raise funds before going public, Lenskart has decided to skip a pre-listing funding round. Investors have been considering an IPO for over a year, but Bansal delayed the decision until now. In previous secondary transactions, there were more buyers than sellers, showing strong demand for Lenskart shares.

The company’s valuation has been climbing steadily. In June 2023, Lenskart closed a ₹2,000 crore ($200 million) secondary funding round at a ₹50,000 crore ($5 billion) valuation. Before that, its primary funding round valued it at ₹45,000 crore ($4.5 billion). Interestingly, Lenskart’s shares were sold at a premium in these transactions, signaling strong investor confidence.

Backed by major investors like SoftBank and Temasek, Lenskart is the dominant player in India’s eyewear market. Its India operations are profitable, and the company is expanding aggressively. Apart from strengthening its domestic business, Lenskart is also focusing on international markets, especially Thailand, and boosting its premium eyewear segment.

As part of this strategy, Lenskart acquired Owndays, a Japanese eyewear brand, for ₹4,000 crore ($400 million) in 2022.