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Ahead of IPO Fidelity Boosts Lenskart Valuation to $6.1 Billion

Written by: Team Angel OneUpdated on: 16 Jun 2025, 7:16 pm IST
Fidelity raises Lenskart’s valuation to $6.1 billion as the company prepares for a $10 billion IPO with structural changes and expansion plans underway.
Ahead of IPO Fidelity Boosts Lenskart Valuation to $6.1 Billion
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Fidelity Investments has increased the valuation of Lenskart, the eyewear company, to $6.1 billion, according to a portfolio update. This marks a 22% rise from the $5 billion valuation at which Fidelity acquired shares in a secondary transaction in June 2024.

That funding round also included Temasek, which joined as a new investor. Shortly after, Lenskart’s CEO, Peyush Bansal, led an additional $20 million investment. According to Tracxn, the company has raised around $1.08 billion across 19 funding rounds so far.

Lenskart IPO Underway

Lenskart has formally changed its holding structure from a private to a public limited company. This change is a step towards its upcoming initial public offering (IPO), for which it is expected to file a draft red herring prospectus (DRHP) with SEBI by the end of the month.

As per Moneycontrol reports, the company is in discussions with Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital to manage the IPO process. The planned offering size is expected to be over $1 billion, targeting a $10 billion valuation.

Read more: Lenskart Prepares for Market Debut; Restructures as Public Company!

Lenskart Operations and Financials

Founded in 2008, Lenskart operates through an omnichannel model, with a presence in both online and offline retail. The company runs more than 2,000 physical stores across India.

For FY24, Lenskart reported an operating revenue of ₹5,427.7 crore, marking a 43% increase from the previous year. Net loss stood at ₹10 crore, down from ₹63 crore in FY23. 

Recent Developments

In December 2024, Lenskart signed a memorandum of understanding with the Telangana government to establish a manufacturing facility at Fab City. The proposed investment is around ₹1,500 crore, with job creation estimated at 2,100 positions.

Conclusion

With its valuation marked up and IPO groundwork in progress, Lenskart continues to restructure and expand its operations ahead of its public listing.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Jun 16, 2025, 1:46 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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