Lenskart Aims for the Spotlight: IPO DRHP Filing Expected in Early July

Lenskart Aims for the Spotlight: IPO DRHP Filing Expected in Early July
Lenskart to file DRHP for its IPO in July

In the first two weeks of July, the unicorn in the eyewear industry, Lenskart, will file DRHP for its IPO. It will opt for a public DRHP rather than the confidential DRHP route.

Lenskart is choosing full public disclosure over the confidential IPO filing path with the Securities and Exchange Board of India (SEBI), which is what several of its competitors, such as Swiggy, Groww, Meesho, PhysicsWallah, and Boat, have chosen.

The confidential route gives businesses flexibility and protection during the pre-IPO stage while preserving the privacy of sensitive business information during early regulatory examinations.

A public file, on the other hand, instantly makes the DRHP available to the public, exposing all financial data, corporate specifics, and strategic intentions to inspection. Lenskart's decision to be transparent points to a solid and planned business strategy.

Massive IPO Plan Marking Lenskart’s Valuation at $10 Billion

According to reports, Lenskart is getting ready for a big $1 billion IPO with a $10 billion valuation target. Its tremendous development and market leadership are reflected in this aim, which is almost twice its prior private market valuation.

A group of top investment banks, including Kotak, Axis Capital, Citi, Morgan Stanley, and Avendus, have joined forces with Lenskart to oversee this massive IPO.

The company's confidence stems from its growing global footprint and its leading position in the Indian omnichannel eyewear market.

Lenskart has a distinct competitive advantage because it presently has no direct competitors in the new economy sector, and Titan Eye Plus, its closest listed competitor, works on a much smaller scale.

Financial Dynamics of Lenskart

With a sales base of INR 5,427.7 crore, the company posted a loss of INR 10.15 crore in FY24. Despite being a loss, it greatly reduced losses by 84% when compared to FY23's INR 63.7 crore, indicating a concentration on both expansion and strict financial control.

An excellent measure of the company's market penetration is the revenue growth of 43.2% in FY24 compared to FY23. The company has not yet released its financial results for FY25.

Lenskart, which was founded by Peyush and Neha Bansal, Amit Chaudhary, Ramneek Khurana, and Sumeet Kapahi, has grown outside of India. Japan, Singapore, and the United Arab Emirates are among the important foreign markets in which it works.

The business has made significant investments in international growth, including the purchase of the majority of the Japanese eyewear company OWNDAYS, which was estimated to be worth $400 million in 2023.

With ambitions to create up to 400 new stores in Southeast Asian nations over the next two years, this calculated move intends to further establish the company as a global leader in eyeglasses.

In Hyderabad, Telangana, Lenskart just started construction of the biggest eyewear facility in the world, which will serve both the domestic and international markets.

ADIA, ChrysCapital, SoftBank, Alpha Wave, Temasek, and Fidelity are just a few of the well-known investors that have helped Lenskart collect more than $1 billion in capital to date, demonstrating their tremendous faith in the company's business plan and future growth.

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