Summary: Lenskart, led by Peyush Bansal, is preparing for a $10 billion IPO, expected to be filed by May 2025 and listed by year-end. The company significantly improved its financial performance, reducing net losses by 84.4% from Rs 63.7 crore in FY23 to Rs 10.1 crore in FY24. Revenue grew by 43% to Rs 5,427 crore, while EBITDA more than doubled to Rs 856 crore. It achieved a standalone net profit of Rs 144 crore in FY24, marking a 5.1% increase. The IPO is expected to strengthen Lenskart’s market position and attract strong investor interest.
Peyush Bansal-led eyewear giant Lenskart is reportedly preparing for an Initial Public Offering (IPO), which is expected to value the company at a staggering $10 billion. The company is set to file its Draft Red Herring Prospectus (DRHP) by May 2025, with plans to list on Indian stock exchanges before the end of the year.
Financial Performance and Growth
Lenskart has showcased a remarkable improvement in its financial performance in recent years. The company successfully reduced its net loss by a significant 84.4%, dropping from Rs 63.7 crore in FY23 to just Rs 10.1 crore in FY24.
Revenue from operations witnessed an impressive 43% year-on-year growth, soaring from Rs 3,788 crore in FY23 to Rs 5,427 crore in FY24. Furthermore, the company’s EBITDA more than doubled, reflecting a 112.5% increase from Rs 403 crore in FY23 to Rs 856 crore in FY24.
Achieving Profitability
One of Lenskart’s most notable achievements is its transition to profitability on a standalone basis. The company recorded a net profit of Rs 144 crore in FY24, a 5.1% increase from Rs 137 crore in FY23. This financial improvement underscores Lenskart’s strong operational efficiency and strategic expansion efforts.
IPO Plans and Market Impact
With its IPO plans in motion, Lenskart aims to leverage its robust financial growth to attract investors. A $10 billion valuation would position it among India’s top startups and reinforce its standing in the competitive eyewear market. The move is expected to bolster the company’s expansion and innovation efforts, further strengthening its presence both in India and internationally.
As Lenskart prepares for its public debut, industry experts anticipate significant investor interest, given its strong financial performance and market dominance. The upcoming IPO marks a crucial milestone in Lenskart’s journey, setting the stage for continued growth and success in the years ahead.
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