Salient points
- Lenskart Solutions Limited Solutions has moved on to a public company, changing its name in Lenskart Solutions Limited, as it is preparing for a public list and aims to collect $ 1 billion for a potential evaluation of $ 10 billion.
- The Omnicanale glasses dealer based in Gurutgram has recorded an annual rate of execution of $ 1 billion revenue and significantly reduced its net loss from RS 64 crores in exercise 23 to RS 10 crores in Fy24, attributed to operational efficiency led by technology.
- With over 2,500 stores throughout India and the South -East Asia and a strong online presence, Lenskart joins other startups such as Shiprocket and Zetwerk in the preparation of initial public offers (IPO).
The Omnichannel Eyewear Lenskart brand converted into a public company while preparing for a public list, changing its name recorded by Lenskart Solutions Limited Solutions to Lenskart Solutions Limited through a special resolution approved by its shareholders.
This happens at a time when Lenskart is taking into consideration the breeding of a public offer of $ 1 billion to a potential evaluation of $ 10 billion, double that of his latest financing round. The transition to a public company is a necessary step before presenting its iPo documents.
The company based in Gururgram closed a secondary round of $ 200 million in June last year with an assessment of $ 5 billion, with investments from the sovereign fund of Singapore themesek and the Finelity Fidelity financial services giant. In July 2024, the founders of Lenskart Peyush Bansal, Neha Bansal, Amit Choudhary and Sumet Kapahi had invested almost $ 20 million in company.
On February 17, and reported that the company set its eyes on the archives of projects of projects in May, depending on the market conditions. However, the Omnicannel glasses dealer has yet to present his projects. Lenskart, who won the Et Startup Awards last year, reached an annual rate of execution of $ 1 billion revenue (RS 8,400 crores). The company produces 25 million frames and 30-40 million lenses per year and manages over 2,500 stores in India and in the South -East Asia, maintaining a strong online presence.
The conversion of Lenskart in a public company was reported for the first time by the Entackr news website.
With this, the company supported by SoftBank joins Startups such as Shiprocket, Zetwerk, Physicswallah, Infra.Market, Boat, Bluestone and others who are preparing for the IPOs. Since its institution, Lenskart has closed almost $ 2 billion in funding, including secondary sales.
In the exercise24, the net loss of Lenskart reduced to RS 10 crores from RS 64 crores to Fy23, which the company has attributed to the operational efficiency led by technology. Operational revenues increased by 43% to RS 5,428 crores, while profits before interest, taxes, softenings and amortization (Ebitda) are more than doubled to RS 856 crores. It has yet to present financial reports for 2024-25 with the Registrar of Companies (Roc).
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