Lenskart plans $1 billion IPO, hiring Kotak Mahindra and Morgan Stanley: Report

HT couldn’t independently verify the information.

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Lenskart may seek a valuation of $8 billion and other banks may also join to work on the IPO.

However, the considerations are currently ongoing with no final decision made so far, because of which details like IPO size and company valuation may vary, the report read.

Lenskart, founded in 2010 is backed by Masayoshi Son’s SoftBank Group, the Abu Dhabi Investment Authority, KKR & Co., Temasek Holdings Pte and PremjiInvest.

While it was profitable in the past, it incurred losses of about ₹10 crore despite pulling ₹5,427-crore revenues in the financial year 2023-24, according to a Moneycontrol report.

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The company even recently hired former Oyo chief financial officer (CFO) Abhishek Gupta as its CFO.

If the IPO plans do fructify, Lenskart will join the likes of other new age firms such as Swiggy, Zomato and Paytm to list on the bourses.

Lenskart’s IPO plan comes at a time when India’s primary market is booming. As many as 25 startups are looking to make their stock market debuts in 2025, including quick commerce giant Zepto, construction materials platform Infra.market, AI unicorn Fractal, and edtech startup PhysicsWallah, according to the report.

What’s more is that all of them are targeting an IPO size around the $500 million range.

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Meanwhile, other startups such as Zetwek, SoftBank-backed OfBusiness, and fintech unicorn Pine Labs, are looking to raise $1 billion from their IPOs in the future, according to the report.

In 2024, 13 such startup IPOs came about including Ola Electric, Swiggy, and FirstCry, collectively raising over ₹29,000 crore (about $3.4 billion).