Lenskart, Groww parent to launch $1.7B IPOs in October
Lenskart and Billionbrains Garage Ventures (parent of Groww) are gearing up to raise a combined $1.7 billion through their upcoming IPOs—Lenskart is targeting $900 million, while Billionbrains aims for $750 million.
Both are expected to open their IPOs in the week of October 27, with listings likely by November 10, making this one of the biggest fundraising waves from Indian startups in 2024.
Lenskart's IPO to include fresh issue, shareholder sales
Lenskart, founded in 2010, runs over 2,700 eyewear stores across India and owns brands like John Jacobs and Vincent Chase. In FY24, it pulled in ₹6,653 crore revenue with ₹297 crore profit. The IPO includes a fresh issue plus share sales from big investors like SoftBank and Temasek.
Billionbrains operates Groww—the country's largest retail investment platform—and is backed by Microsoft CEO Satya Nadella. Its IPO will offer both new shares and stakes from existing investors.
India tops global startup listings in 2024
These blockbuster IPOs come right after Tata Capital and LG Electronics India hit the market earlier this month, pushing October's total fundraising above $5 billion.
With strong retail interest and plenty of liquidity, India is leading global startup listings in 2024—definitely a milestone moment for homegrown tech brands.