LENSKART in discussion for $200 million infusion from Temasek, Fidelity, forecasting $5 billion valuation.
02-05-2024
Lenskart is discussing a $200 million investment from Temasek and Fidelity through a secondary share sale.
This investment could raise Lenskart’s valuation to around $5 billion, more than three times that of its competitor Warby Parker.
Temasek, an existing investor, plans to lead with $125-150 million, while Fidelity will contribute the rest.
Other early investors like TR Capital, KKR, and Avendus might sell part of their shares, but SoftBank will retain its stake.
Lenskart’s revenue for FY24 is estimated at ₹5,500 crore, showing significant growth from the previous year.
In FY23, Lenskart’s revenue doubled to ₹3,780 crore with a profit of ₹260 crore, a turnaround from the ₹100 crore loss in FY22.
Audited financial statements for FY24 are awaiting submission to the Registrar of Companies.
