Lenskart to File DRHP: Lenskart, India’s top omnichannel eyewear brand, will publicly file a draft red herring prospectus for its initial public offering by mid-July, skipping the confidential filing. Lenskart’s filing will make all information publicly available immediately, unlike firms like Swiggy and Groww that used SEBI’s confidential filing route. The eyewear giant’s decision reflects confidence in its market position and stellar business performance.
Plans for a $1 Billion IPO
Lenskart seeks $1 billion via IPO with an anticipated $10 billion valuation. This figure represents a notable uptick from an earlier forecast of $7-8 billion. The company has roped in top banks like Kotak Mahindra Bank and Axis Capital alongside Citi, Morgan Stanley, and Avendus to oversee fundraising.
Operating Loss Amid Growth Investments
Lenskart has faced financial losses recently due to rapid growth investments, despite a storied history of profitability. The company recorded a ₹10 crore loss on revenue of ₹5,427 crore in FY24. Lenskart remains optimistic about long-term growth amidst uncertain FY25 financials still pending disclosure and a strong market presence.
