Eyewear giant Lenskart is gearing up for an Initial Public Offering (IPO) to raise $1 billion (approx. ₹8,684 crores) at a $10 billion valuation (around ₹86,835 crores), as per The Economic Times. The company may file its draft IPO documents by May. IPO Discussions Underway Lenskart CEO Peyush Bansal recently discussed the potential IPO with investors and bankers, though the final amount will depend on market conditions. Valuation Growth Expansion In June 2024, Lenskart raised $200 million (₹1,700 crores) at a $5 billion valuation. Previously, it secured funding at a $4.5 billion valuation. Backed by SoftBank and Temasek, Lenskart dominates the eyewear sector and is expanding in Thailand. Financial Performance Lenskart reported a reduced loss of ₹8.9 crores in FY2024. Source: Tracxn What is an IPO? An IPO is when a company offers its shares to the public for the first time to raise capital for expansion instead of borrowing. Lenskart’s Journey Founded in 2010 by Peyush Bansal, Sumeet Kapahi, and a Kolkata-based friend, Lenskart initially operated multiple e-commerce platforms, including Jewelkart and Watchkart. Seeing potential in eyewear, they focused solely on Lenskart. Manufacturing Expansion Lenskart runs an automated manufacturing unit in Bhiwadi, Rajasthan, along with facilities in Delhi, Gurugram, and Zhengzhou, China. A new ₹1,600 crore plant in Bengaluru will start production in 18 months.Original Article