Lenskart, the eyewear giant helmed by Peyush Bansal, is reportedly preparing for a $1 billion Initial Public Offering (IPO) this year, with Kotak Mahindra Bank Ltd. and Morgan Stanley advising on the deal. The company is targeting a valuation of approximately $8 billion, as it gears up for one of the most significant public listings in India’s startup ecosystem.
The IPO is expected to attract strong investor interest, given Lenskart’s dominant position in the eyewear market and its steady global expansion. The company has grown rapidly, leveraging a mix of online and offline strategies to build a strong customer base. However, while Lenskart has initiated discussions with financial institutions, no final decisions have been made regarding the IPO’s size and valuation, which may still be subject to changes.
This move comes on the heels of key leadership appointments aimed at strengthening its financial readiness. Lenskart recently welcomed Abhishek Gupta, the former CFO of OYO, a move seen as a strategic step to enhance financial management and corporate governance as it inches closer to going public.
The public listing would mark a significant milestone for Lenskart, which has steadily expanded its presence beyond India, entering markets in the Middle East and Southeast Asia. Backed by investors such as SoftBank and Temasek, the company has been scaling its operations, including acquisitions to bolster its global footprint.
A successful IPO would not only provide capital for further expansion but also position Lenskart as a formidable global player in the eyewear industry. With the Indian stock market witnessing strong momentum in tech and consumer IPOs, Lenskart’s public debut is expected to generate significant interest among institutional and retail investors alike.
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