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News Topical, Digital Desk : Softbank-invested eyewear startup Lenskart has applied to the Ministry of Corporate Affairs (MCA) to raise capital through a new share sale of Rs 2,150 crore. According to information received by CNBC-TV18 from sources, the company is preparing to bring an IPO by filing its draft red herring prospectus (DRHP) soon.
According to reports, Lenskart's valuation could exceed $8 billion (about Rs 68,000 crore).
According to a Moneycontrol report, Lenskart is on track to end FY25 with revenue of $755 million (about Rs 6,415 crore). This is a growth of 17% over the previous year, which is less than the 46% growth between FY2023-24. The company's revenue in FY23 was $443 million, which increased to $645 million in 2024. Apart from India, growth in earnings from abroad too A large part of Lenskart's revenue in FY25 came from India. But, the company's international business is growing rapidly. The company has generated revenue of $455 million (Rs 3,865 crore) in India and $300 million (Rs 2,550 crore) from overseas markets, especially South-East Asia. Lenskart acquired Japanese eyewear company Ondays for $400 million in 2022 and started a joint venture for manufacturing in China. From FY 2023, about 60% of Lenskart's revenue is coming from India and the rest from international business. In FY 2025, Lenskart achieved strong EBITDA margins of 18-22%. The company's gross margin is 70%. Average cost price (ACP) is $8 (Rs 680) and average selling price (ASP) is $28 (Rs 2,380). In the first half of FY 2025, Lenskart had net cash of about $200 million (Rs 1,700 crore). Lenskart estimates that India, Asia and the Middle East together have a total potential market of $30 billion.
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