Lenskart Files Draft IPO Papers, Eyes $10B Valuation

Lenskart, India's largest omnichannel eyewear retailer, has secured shareholder approval and filed draft papers with SEBI for an initial public offering (IPO) expected to raise Rs 2,150 crore ($250 million) in fresh capital. The total IPO size could reach $1 billion, including a significant offer-for-sale by major backers such as SoftBank, Temasek, Kedaara Capital, and several founders. Lenskart intends to use the proceeds to expand its store network, invest in technology, strengthen its brand, and support global expansion, with a focus on Southeast Asia and the Middle East. The company anticipates a valuation in the $8–10 billion range, following a previous $6.1 billion mark-up by Fidelity. In FY24, Lenskart reported 43% revenue growth to Rs 5,427 crore and sharply reduced net losses. This IPO situates Lenskart among a broader cohort of Indian tech startups seeking to go public amid strong market interest.