Lenskart to launch IPO this week, seeking US$7.9b in valuation
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Lenskart Solutions, a leading Indian eyewear retailer, is preparing to unveil its Initial Public Offering (IPO) this week. The company is targeting a valuation of approximately 695 billion rupees, which equates to around $7.91 billion.
Details of the IPO
Lenskart Solutions has established a price range of 382-402 rupees per share, which translates to around $4.35 to $4.57. As part of the IPO, Lenskart will issue fresh shares amounting to 21.5 billion rupees. Current investors, inclusive of the company’s founders, are also set to sell approximately 128 million shares, as indicated in an updated prospectus.
The IPO will commence on October 31 and continue until November 4, with anchor investors beginning to submit their bids on October 30.
Lenskart’s Success Story
Lenskart Solutions was established in 2010 and has its headquarters in Gurgaon. As of September 10, the company was valued at $6.1 billion. It operates more than 2060 stores throughout India and has more than 650 outlets internationally.
The main shareholders, often referred to as ‘promoters’, encompass a Mumbai-based private equity firm named Kedaara Capital, Temasek, a state-owned investment company from Singapore, and SoftBank from Japan.
Future Plans
In a statement released in July to the Securities and Exchange Board of India (SEBI), Lenskart Solutions announced that the funds procured from the IPO will be utilized to invest in the establishment of new company-owned, company-operated stores nationwide.
Questions & Answers
What is the targeted valuation for Lenskart Solutions’ IPO?
The company is aiming for a valuation of approximately 695 billion rupees or around $7.91 billion.
Who are the main shareholders of Lenskart Solutions?
The primary shareholders include a Mumbai-based private equity firm named Kedaara Capital, Singapore’s state investment company, Temasek, and Japan’s SoftBank.
What will the funds procured from the IPO be used for?
Lenskart Solutions has stated that the funds will be utilized to invest in the establishment of new company-owned, company-operated stores across India.