Eyewear retail company Lenskart, from online to offline, is also preparing for listing in the stock market. The company is preparing to raise $1 billion from the market through IPO and can file draft papers for bringing IPO with the stock market regulator SEBI in the month of May this year.
When Will Lenskart File IPO Papers?
However, the fixed date of IPO has not been revealed yet. It can be launched considering the market situation, but draft papers can be filed with SEBI in the month of May. According to the information, some people of the company are seen in favor of aggressive valuation, while considering the current market situation, the company can reduce the valuation of IPO so that more and more investors can be attracted.
Lenskart’s Growth and Financial Performance
Lenskart produces 2.5 crore frames and 3 to 4 crore lenses annually; The company produces 2.5 crore frames and 3 to 4 crore lenses annually. It also holds a “significant stake” in Paris-based omnichannel eyewear brand Le Petit Lunetier.
Lenskart Revenue & Profitability in FY24; Lenskart is working towards profitability in full swing ahead of the IPO, including a sharp reduction in losses and stable revenue growth. Net loss reduced from Rs 64 crore in FY23 to Rs 10 crore in FY24. Operational revenue grew 43% year-on-year to Rs 5,428 crore in FY24. Whereas, EBITDA grew from Rs 403 crore in FY23 to over Rs 856 crore in FY24.
Lenskart’s Expansion & Business Model
Lenskart has spread its business across the country and is one of the leading eyewear companies. In fact, the company sells eyewear, glasses and contact lenses and provides its services from online to offline. The company was started in 2010 by Piyush Bansal, who is still the CEO of this company.
Why This IPO is a Big Opportunity for Investors; The company’s operations in India are profitable and it is constantly expanding its business. The company has made acquisitions worth $ 400 million not only in India but also in Japan. Also, the company is expanding its business in Thailand. In such a situation, if this IPO comes, it can prove to be a great opportunity for investors.
