Lenskart is preparing to publicly file its draft red herring prospectus (DRHP) with the Copy and Exchange Board of India (SEBI) in mid-July, a crucial step towards its long-awaited IPO.
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📈 IPO Snapshot & Filing Strategy
Filing: Unlike the likes of Swiggy and Groww who opted for confidential filing, Lenskart has chosen the traditional route – making all IPO details public soon after the DRHP is filed
Fundraising target: Aiming to raise approximately $1 billion at a valuation of $10 billion
Banking consortium: Leading global and domestic banks like Kotak, Axis Capital, Citi, Morgan Stanley, and Avendus are advising and underwriting the IPO
🔍 Financial Overview
FY24 performance: Reported ₹5,427.7 crore in revenue, with losses trimmed drastically to ₹10.15 crore, an ~84% reduction from FY23
EBITDA trend: The company improved profitability and was EBITDA-positive in recent years, a contrast to broader losses from previous operational expansion .
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🌍 Business & Expansion Highlights
Omnichannel dominance: Over 2,000 physical stores, with strong direct-to-consumer infrastructure and significant manufacturing capabilities in Bhiwadi
Global footprint: Active in UAE, Singapore, Japan, and bolstered by its majority acquisition of the Japanese eyewear brand Owndays—a deal valued near $400 million
Next steps: Plans to open up to 400 additional stores across Southeast Asia and establishing the world’s largest eyewear manufacturing complex in Hyderabad
DIGI MERCH STORE PRINT ON DEMAND
✅ Why This Matters
Transparency-first approach: Public DRHP filing signals maturity and confidence in financials, potentially attracting greater investor trust
High-stakes debut: A $10 billion valuation would place Lenskart among India’s most valuable consumer tech IPOs.
Market leadership: Unlike Titan Eye Plus and other listed competitors, Lenskart commands no direct rivalry in the ‘new-economy’ segment, reinforcing its dominant position
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🎯 Bottom Line
Lenskart’s move to file publicly in mid‑July underscores its strategic growth trajectory and confidence in its financial disclosures. With a robust $1 billion raise from a $10 billion valuation, the IPO could mark a landmark moment for Indian D2C success stories
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