Lenskart calls on bankers for $1 billion IPO pitch

Lenskart calls on bankers for $1 billion IPO pitch

Eyewear startup Lenskart has called on bankers to pitch for the company’s initial public offering (IPO) wherein the firm is aiming to raise anywhere between $750 million and $1 billion, sources in the know told Moneycontrol.

“The company is eyeing a valuation of $7-8 billion and is likely to list toward the end of fiscal year (FY) 2026,” one of the persons cited above said.

Lenskart’s CEO and co-founder Peyush Bansal did not immediately respond to Moneycontrol’s queries.

While Lenskart was profitable in the past, it incurred a loss of Rs 10 crore on the back of Rs 5,427-crore revenues in FY24, filings showed.

If the company’s listing plans fructify, it will be among the top new age firms besides Swiggy, Zomato and Paytm to list on the bourses. Lenskart has also joined several other new age firms who have recently outlined plans for bumper IPOs.

Startups such as contract manufacturer Zetwek, SoftBank-backed OfBusiness, and fintech unicorn Pine Labs, are each looking to raise $1 billion via IPOs in the near future.

In all, as many as 25 startups are looking to make stock market debuts in 2025. This includes firms like quick commerce leader Zepto, construction materials platform Infra.market, AI unicorn Fractal, and edtech startup PhysicsWallah, all of which are targeting IPOs around the $500 million range.

This marks a notable recovery from 2024, when just saw IPOs from 13 startups, including Ola Electric, Swiggy, and FirstCry. These companies together raised over Rs 29,000 crore (roughly $3.4 billion).

Lenskart recently also roped in former Oyo chief financial officer (CFO) Abhishek Gupta as its CFO, presumably in preparation of its imminent public listing.

The eyewear startup's listing plans come at a time when the country's buoyant public markets have facilitated a resurgence in startup funding, primarily on the back of big-ticket pre-IPO rounds.

Several IPO-bound firms, including Zepto, PhysicsWallah, Rebel Foods, and Oyo, among others, raised large rounds last year. Industry stakeholders expect this momentum to continue this year, as more new age firms look to tap public markets.