Lenskart has initiated its IPO process, inviting banks to pitch for a listing that could raise up to $1 billion.
The company aims for a $7-8 billion valuation in its fiscal 2026 debut.
The big picture: Lenskart's IPO comes as 25 Indian startups plan market debuts in 2025. With ₹5,427 crore revenue and a minor ₹10 crore loss in FY24, the company offers public markets a rare blend of scale and near-profitability in new-age retail.
Context: The timing follows a strong year for tech IPOs, which raised ₹29,000 crore in 2024. Former Oyo CFO Abhishek Gupta's appointment as CFO underscores IPO readiness.
Why it matters: For public investors, Lenskart presents a unique proposition - an omnichannel retailer with tech-enabled operations and significant offline presence. Its success could set precedents for retail-tech valuations.
Looking ahead: Focus areas include pre-IPO funding, comparable valuation benchmarks, and unit economics. The company's ability to maintain growth while meeting public market standards will be key.
The bottom line: Lenskart's IPO will test public market appetite for profitable retail-tech models. The outcome could influence listing plans for other omnichannel retailers.
