Lenskart founder acquires 2% stake at $7 billion valuation
Lenskart is gearing up for a billion-dollar IPO, aiming for a valuation between $8 and $10 billion.
The company recently became a public limited entity to set the stage for this big move.
Over 2,500 stores globally
Founded in 2010, Lenskart runs over 2,500 eyewear stores across India and abroad, offering everything from prescription glasses to sunglasses and contacts.
To boost efficiency and cut costs ahead of the IPO, most manufacturing has shifted to India.
Lenskart to file draft papers soon
Lenskart plans to file its draft IPO papers with help from top banks like Kotak Mahindra Capital and Morgan Stanley.
Financially, it's on solid ground—losses dropped by 84% last year while revenue jumped 43%.
Backed by major investors like SoftBank, founder Peyush Bansal has also been buying back shares to keep more control before going public.