Latest news with #LenskartSolutionsPrivateLimited
Fashion Network
10-06-2025
- Business
- Fashion Network
Lenskart converts to public company as it gears up for IPO
Eyewear brand Lenskart has formally transitioned into a public company, marking a step towards its planned initial public offering, which could take place this financial year. The business' name has been changed from Lenskart Solutions Private Limited to Lenskart Solutions Limited. The reclassification, now filed with the Registrar of Companies, is a key procedural requirement ahead of listing on Indian stock exchanges, India Retailing reported. While Lenskart has yet to confirm the IPO's size or timeline, reports suggest the company may target a listing in the 2026 financial year, seeking to raise between $750 million and $1 billion at a valuation of $7 billion to $8 billion. Earlier this year, Kotak Mahindra Bank and Morgan Stanley were reportedly appointed as lead managers for the offering. Lenskart is also in discussions to secure a $1 billion pre-IPO round to bolster its financial position ahead of the listing. Founded in 2010, Lenskart operates over 2,500 stores across India, the UAE, Singapore, and Japan, with a user base of more than 20 million. In the 2024 financial year, the company reported an 84% reduction in net loss to Rs 10 crore and a 43% year-on-year increase in operating revenue to Rs 5,427.7 crore.
Time of India
09-06-2025
- Business
- Time of India
Lenskart becomes public limited company in preparation for IPO
Omnichannel eyewear brand Lenskart has converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. This comes at a time when Lenskart is considering raising a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round. The transition to a public company is a necessary step before filing its IPO papers. The Gurugram-based company closed a $200 million secondary round in June last year at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. On February 17, ET reported that the company has set its sights on filing draft papers in May, contingent on market conditions. However, the omnichannel eyewear retailer is yet to file its draft papers. Lenskart, which won the ET Startup Awards last year, has hit an annual revenue run rate of $1 billion (Rs 8,400 crore). The company produces 25 million frames and 30–40 million lenses annually and operates over 2,500 stores across India and Southeast Asia, maintaining a strong online presence. Lenskart's conversion into a public company was first reported by the news website Entrackr. With this, the SoftBank-backed company joins startups like Shiprocket, Zetwerk, PhysicsWallah , Boat, Bluestone, and others that are preparing for IPOs. Since its inception, Lenskart has closed nearly $2 billion in funding, including secondary sales. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).
News18
09-06-2025
- Business
- News18
Lenskart Becomes Public Company, Paving Way For $1-Billion IPO
Last Updated: Eyewear retailer Lenskart has officially converted into a public company Eyewear retailer Lenskart has officially converted into a public company, marking a significant milestone as it gears up for its initial public offering (IPO). During an extraordinary general meeting held on May 30, the company's board approved a special resolution to change its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited. This name change aligns with Lenskart's plans to list on one or more Indian stock exchanges, although the size and timing of the IPO have not been disclosed. The move comes after Moneycontrol reported that Lenskart was in advanced discussions to appoint a consortium of bankers, including Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital, to lead the IPO process. According to sources, the company is aiming for a public issue of over $1 billion, potentially making it one of the largest IPOs in India's new-age consumer tech sector. Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has grown into India's largest omni-channel eyewear brand, boasting a strong online presence and more than 2,000 physical stores. Backed by investors like SoftBank, Temasek, ADIA, Alpha Wave Global, KKR, Kedaara Capital, and TPG, Lenskart entered the unicorn club in 2019. In June 2024, the company raised $200 million from Temasek and Fidelity at a valuation of $5 billion. However, it reported a net loss of Rs 10 crore in FY24 on operating revenue of Rs 5,427 crore, reversing earlier profitability. Lenskart's IPO would be a crucial test of investor sentiment toward consumer brands and may set the tone for other profitable or near-profitable startups eyeing the markets. If successful, it would solidify Lenskart's leadership in India's eyewear industry. Additionally, in December 2024, Lenskart signed an MoU with the Telangana government to establish a manufacturing facility at Fab City with an investment of Rs 1,500 crore. The plant is expected to create around 2,100 jobs.
Economic Times
07-06-2025
- Business
- Economic Times
Lenskart changes status to public company in preparation for $1 billion IPO
ETtech Piyush Bansal, CEO, Lenskart Omnichannel eyewear brand Lenskart has converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. This comes at a time when Lenskart is considering raising a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round. The transition to a public company is a necessary step before filing its IPO papers. The Gurugram-based company closed a $200 million secondary round in June last year at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. On February 17, ET reported that the company has set its sights on filing draft papers in May, contingent on market conditions. However, the omnichannel eyewear retailer is yet to file its draft papers. Lenskart, which won the ET Startup Awards last year, has hit an annual revenue run rate of $1 billion (Rs 8,400 crore). The company produces 25 million frames and 30–40 million lenses annually and operates over 2,500 stores across India and Southeast Asia, maintaining a strong online presence. Lenskart's conversion into a public company was first reported by the news website Entrackr. With this, the SoftBank-backed company joins startups like Shiprocket, Zetwerk, PhysicsWallah, Boat, Bluestone, and others that are preparing for IPOs. Since its inception, Lenskart has closed nearly $2 billion in funding, including secondary FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. It is yet to file financial statements for 2024-25 with the Registrar of Companies (RoC).
