Lenskart Sets The IPO Ball Rolling, Onboards Two Bankers

Lenskart Sets The IPO Ball Rolling, Onboards Two Bankers

SUMMARY

The omnichannel eyewear startup has reportedly roped in Kotak Mahindra Bank and Morgan Stanley for its upcoming IPO

The company has onboarded these two bankers for its potential IPO in Mumbai this year

Other bankers are expected to join the table on a share sale with an aim to help Lenskart raise its pre-IPO round of about $1 Bn

Weeks after reports surfaced that LensKart was in talks with bankers for its initial public offering (IPO), the omnichannel eyewear startup has reportedly roped in Kotak Mahindra Bank and Morgan Stanley.

The company has onboarded these two bankers for its potential IPO in Mumbai this year, Bloomberg reported, citing sources familiar with the matter.

Inc42 has reached out to Lenskart for comments on the development. The story will be updated based on the response.

One of the sources further added that other bankers are expected to join the table on a share sale with an aim to help Lenskart raise its pre-IPO round of about $1 Bn.

Lenskart was said to eye a valuation of $7-8 Bn through its IPO, a few weeks ago.

Sources, however, confirmed that the considerations are ongoing and the company has not come to any final decisions yet.

It is understood that the details such as the IPO size and its valuation are bound to change.

This development comes at a time when multiple new-age startups have announced their plans of going public. Quick commerce giant Zepto, used car marketplace Droom, cloud kitchen startup Curefoods, fintech major Pine Labs are some of the companies that are running for the public listing this year.

In 2024, there were 13 new-age tech companies that were listed on the exchanges– Go Digit General Insurance, Swiggy, FirstCry, Unicommerce, TBO Tek, Ola Electric, BlackBuck, Awfis, ixigo, Menhood, TAC Security and Trust Fintech. 

To note, Lenskart signed a memorandum of understanding (MoU) with the Telangana government to set up the “world’s largest eyewear manufacturing facility” in the state with a planned investment of INR 1,500 Cr, in December.

Updated at 12:19 PM

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