January 9, 2025
admin
Lenskart calls on bankers for $1 billion IPO pitch
Eyewear startup Lenskart has approached investment bankers to pitch for its upcoming initial public offering (IPO), with the company aiming to raise between $750 million and $1 billion. The company is targeting a valuation of $7-8 billion and is expected to list on the stock exchange by the end of fiscal year 2026, according to sources.
Although Lenskart had been profitable in the past, its filings reveal that the company incurred a loss of Rs. 10 crore on revenues of ₹5,427 crore in FY24.
If Lenskart proceeds with its IPO, it will join other leading new-age companies, such as Swiggy, Zomato, and Paytm, in making its market debut. Lenskart’s listing plans align with a broader trend, with several other startups also planning significant IPOs in the near future. Companies like contract manufacturer Zetwek, SoftBank-backed OfBusiness, and fintech unicorn Pine Labs are each looking to raise $1 billion through their own IPOs.
In total, around 25 startups are expected to debut on the stock market in 2025, including companies like quick-commerce leader Zepto, construction materials platform Infra.market, AI unicorn Fractal, and edtech startup PhysicsWallah, all targeting IPOs in the range of $500 million. This marks a significant recovery from 2024, when only 13 startups, including Ola Electric, Swiggy, and FirstCry, went public, raising over Rs.29,000 crore (roughly $3.4 billion).
Lenskart has also recently appointed former Oyo CFO Abhishek Gupta as its own CFO, likely in preparation for its upcoming IPO. The company’s plans to go public coincide with a surge in funding for startups, supported by a thriving stock market and large pre-IPO rounds.
Several IPO-bound companies, such as Zepto, PhysicsWallah, Rebel Foods, and Oyo, raised significant funding last year, and industry experts expect this trend to continue in 2025 as more new-age firms look to tap into the public markets.
Quicklinks
