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Initial public offerings

Lenskart Transforms into Public Company Ahead of ₹8,600 Crore IPO

Strategic Insights

— 1 min read

Lenskart, India's prominent eyewear brand, has converted into a public limited company ahead of its highly anticipated ₹8,600 crore IPO. This transformation is a crucial step for the company to raise over $1 billion and reach a valuation of $10 billion, nearly doubling its previous valuation of $5 billion. With over 2,500 stores across India and Southeast Asia, Lenskart operates on a yearly business of $1 billion, producing approximately 2.5 crore frames and 3-4 crore lenses annually.

Key Takeaways:

  • Lenskart has transformed into a public limited company, paving the way for its ₹8,600 crore IPO.
  • The company aims to raise over $1 billion, potentially reaching a valuation of $10 billion, double its previous valuation of $5 billion.
  • Lenskart has over 2,500 stores across India and Southeast Asia, with a yearly business of $1 billion and production of 2.5 crore frames and 3-4 crore lenses annually.
  • In FY24, Lenskart's loss reduced to ₹10 crore, contrasting with FY23's ₹64 crore loss, citing technology improvements as a contributing factor.
  • Revenue expanded 43% to ₹5,428 crore, with EBITDA more than doubling to ₹856 crore.
  • Lenskart joins a group of Indian startups, including Shiprocket, Zetwerk, PhysicsWallah, Infra.Market, Boat, and Bluestone, preparing for IPOs.

Statistics:

  • ₹8,600 crore: Amount Lenskart plans to raise through its IPO.
  • Over $1 billion: Estimated amount Lenskart will raise through the IPO.
  • $10 billion: Potential valuation of Lenskart post-IPO.
  • ₹10 crore: Loss reported by Lenskart in FY24.
  • ₹64 crore: Debt reported by Lenskart in FY23.
  • ₹5,428 crore: Revenue growth of 43% in FY24.
  • ₹856 crore: EBITDA, which doubled in FY24.
  • ₹200 million: Amount Lenskart raised in June 2023.
  • 2,500: Number of Lenskart stores across India and Southeast Asia.
  • 2.5 crore: Number of frames produced annually by Lenskart.
  • 3-4 crore: Number of lenses produced annually by Lenskart.
  • $2 billion: Total funds Lenskart has raised, including secondary sales.
  • 2023: Year in which Lenskart raised $200 million.
  • 2024: Year in which Lenskart's founders invested around $20 million.
  • 2025: Year the IPO is expected to take place.

Sources:

  • Indian National Press (Bombay) Pvt. Ltd., distributed by Contify.com
  • Copyright 2025

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