What started off as a vertically organised e-commere platform over a decade and a half back, competing with horizontal e-commerce platforms like Flipkart (back then) will now list on Bombay Stock Exchange at an estimated vauation of INR 85,000 Cr. (USD 10 Bn).
The company plans to raise INR 2,150 Cr through the Initial Public Offering (IPO) and Founder Peyush Bansal could rake up to INR 700 Cr from his low single-digit stake sale.
The company plans to utilise the funds for various strategic initiatives, store expansion among other tech-related upgrades..
The brand is expected to strengthen its store network which is currenly over 2,500 stores spread over 500 cities in India.
A major portion of the fund-raise is expected to see investments in brand building and marketing, strengthening its technology and cloud infrastructure and potential inorganic acquisitions.
Early investors including Ronnie Screwala (Unilazer Investments), Softbank, Schroders Capital Private Equity, Kedara Capital among others, are expeced to reap rich dividends.
The company has raised over INR 9,100 Cr (USD 1.08 Bn) till date since it was founded in 2008. For FY 24-25, Lenskart’s operating revenue grew 23% over the previous year to INR 6,653 Cr according to its restated Financial statement given in DRHP.
Editor’s Note
While it is indeed praise -worthy that Indian first-gen Entrepreneurs like Peyush Bansal and earlier, Flipkart Founders Sachin & Binny Bansal, Caratlane’s Mithun Sacheti, etc. have become Crorepatis, the journey has not been simple or easy.
To be fair, not every entrepreneur has access to capital and necessary “connnections”.
And those that have either or both of the two, also need not be immensely successful.
Discover more from Retail Updates
Subscribe to get the latest posts sent to your email.
