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Lenskart inches closer to IPO plan, gets shareholder nod to raise Rs 2,150 crore
Lenskart has joined the list of new-age firms, such as Groww, PhysicsWallah, and Meesho, who are set to submit their DRHP this year
Peyush Bansal, Co-founder and CEO of Lenskart
Eyewear brand Lenskart has inched closer to its stock market debut, with shareholders of the company giving their final nod to raise Rs 2,150 crore (around $250 million) through a fresh issue of shares.
The Softbank-backed startup is expected to file its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) soon.
According to media reports, Lenskart's valuation would go up to $1 billion, following the approval of IPO plan.
Lenskart has joined the list of new-age firms, such as Groww, PhysicsWallah, and Meesho, who are set to submit their DRHP with Sebi this year. However, Lenskart is expected to ditch the confidential filing route, instead will make the DRHP public. On the other hand, unicorn startups boAt, Groww and Meesho have opted for confidential submission.
According to a report by Moneycontrol, Lenskart is expected to clock revnue of $755 million in fiscal year 2025 (Rs 6,415 crore approximately). However, the company's growth slowed to 17% from FY24 to FY25.
The report claimed that Lenskart's domestic revenue for FY25 is projected to be Rs 3,865 crore and Rs 2,550 crore from the international market.
The report also mentioned that company's EBITDA margins stood between 18-22% in FY25, while gross margin surged to 70%, driven by favourable cost structure.
Lenskart held around Rs 1,700 crore in net cash as of the first half of 2025.