Lenskart, the homegrown eyewear company, is reportedly engaged in talks with Temasek, a Singaporean investment company, and Fidelity, an American financial services corporation, for a $200 million secondary share sale. If the negotiations are successful, it would boost Lenskart’s valuation to around $5 billion, a significant increase from its previous valuation. This move would also place Lenskart’s worth at over three times that of its competitor, Warby Parker, which went public on the NYSE in 2022 with a market cap of close to $1.55 billion. According to sources, Temasek, an existing investor in Lenskart, is expected to lead the round with an infusion of $125-150 million, while Fidelity, making its first-time investment in Lenskart, will contribute the remaining amount. Other early investors in Lenskart, such as TR Capital, KKR, and Avendus, may also consider divesting a portion of their holdings in this round. However, SoftBank, the largest institutional investor with a 16.5 percent stake, is not expected to sell any shares in this transaction. Lenskart’s financial performance has been impressive, with estimated FY24 revenue of 5,500 crore, marking substantial growth from the previous fiscal year. In FY23, the company’s revenue doubled to 3,780 crore, with a profit of 260 crore compared to a loss of approximately 100 crore in FY22. Lenskart’s audited financial statements for FY24 are pending submission to the Registrar of Companies.
Lenskart Eyes $200 Million Fund Infusion, Valuation to Soar to $5 Billion
