Latest news with #Lenskart
Fashion Network
6 days ago
- Business
- Fashion Network
Softbank-backed Lenskart said to near filing for $1 billion IPO
Softbank Group Corp.-backed Lenskart Solutions Pvt, India's largest eyewear maker, is preparing to file preliminary documents in the coming weeks for an initial public offering that may fetch about $1 billion, according to people familiar with the matter. Lenskart is preparing to submit a draft red herring prospectus for the listing, which would value the company at about $10 billion, the people said, asking not to be identified because the information is private. Earlier this month, the company converted itself into a public limited entity as part of its IPO preparations. A spokesperson for Lenskart, which is backed by the likes of Abu Dhabi Investment Authority, KKR & Co. and TPG Inc., didn't immediately respond to an email seeking comment. Lenskart joins the growing number of Indian companies seeking to go public after Indian stocks bounced back from their lows in March and April. Buoyant markets have also prompted local firms and shareholders to pursue a slew of block trades. The company raised $200 million from Temasek Holdings Pte and Fidelity Management & Research in June 2024 at a $5 billion valuation, according to Avendus Capital Pvt, one of the deal's advisors. Since then, Fidelity has marked up its internal estimate of Lenskart's value to $6.1 billion, according to its portfolio disclosures for April. Kotak Mahindra Capital Co., Axis Capital Holdings Ltd., Citigroup Inc., Morgan Stanley and Avendus are arranging the IPO, the people said.
Fashion Network
6 days ago
- Business
- Fashion Network
Softbank-backed Lenskart said to near filing for $1 billion IPO
Softbank Group Corp.-backed Lenskart Solutions Pvt, India's largest eyewear maker, is preparing to file preliminary documents in the coming weeks for an initial public offering that may fetch about $1 billion, according to people familiar with the matter. Lenskart is preparing to submit a draft red herring prospectus for the listing, which would value the company at about $10 billion, the people said, asking not to be identified because the information is private. Earlier this month, the company converted itself into a public limited entity as part of its IPO preparations. A spokesperson for Lenskart, which is backed by the likes of Abu Dhabi Investment Authority, KKR & Co. and TPG Inc., didn't immediately respond to an email seeking comment. Lenskart joins the growing number of Indian companies seeking to go public after Indian stocks bounced back from their lows in March and April. Buoyant markets have also prompted local firms and shareholders to pursue a slew of block trades. The company raised $200 million from Temasek Holdings Pte and Fidelity Management & Research in June 2024 at a $5 billion valuation, according to Avendus Capital Pvt, one of the deal's advisors. Since then, Fidelity has marked up its internal estimate of Lenskart's value to $6.1 billion, according to its portfolio disclosures for April. Kotak Mahindra Capital Co., Axis Capital Holdings Ltd., Citigroup Inc., Morgan Stanley and Avendus are arranging the IPO, the people said.
&w=3840&q=100)
Business Standard
6 days ago
- Business
- Business Standard
Softbank-backed Lenskart set to file for $1 bn IPO in coming weeks
The company raised $200 million from Temasek Holdings Pte and Fidelity Management & Research in June 2024 at a $5 billion valuation, according to Avendus Capital Pvt, one of the deal's advisors Bloomberg By Rajesh Mascarenhas and Baiju Kalesh Softbank Group Corp.-backed Lenskart Solutions Pvt, India's largest eyewear maker, is preparing to file preliminary documents in the coming weeks for an initial public offering that may fetch about $1 billion, according to people familiar with the matter. Lenskart is preparing to submit a draft red herring prospectus for the listing, which would value the company at about $10 billion, the people said, asking not to be identified because the information is private. Earlier this month, the company converted itself into a public limited entity as part of its IPO preparations. A spokesperson for Lenskart, which is backed by the likes of Abu Dhabi Investment Authority, KKR & Co. and TPG Inc., didn't immediately respond to an email seeking comment. Lenskart joins the growing number of Indian companies seeking to go public after Indian stocks bounced back from their lows in March and April. Buoyant markets have also prompted local firms and shareholders to pursue a slew of block trades. The company raised $200 million from Temasek Holdings Pte and Fidelity Management & Research in June 2024 at a $5 billion valuation, according to Avendus Capital Pvt, one of the deal's advisors. Since then, Fidelity has marked up its internal estimate of Lenskart's value to $6.1 billion, according to its portfolio disclosures for April. Kotak Mahindra Capital Co., Axis Capital Holdings Ltd., Citigroup Inc., Morgan Stanley and Avendus are arranging the IPO, the people said.
Yahoo
6 days ago
- Business
- Yahoo
India's Eyewear Unicorn Is Going Public -- And It Could Be a $10B Market Shocker
India's top eyewear retailer, Lenskart, is gearing up for a major public debut that could raise around $1 billion. Backed by Softbank, Abu Dhabi Investment Authority, KKR (NYSE:KKR), and TPG (NASDAQ:TPG), the company is preparing to file its draft red herring prospectus in the coming weeks. Sources familiar with the matter say the IPO could peg Lenskart's valuation at roughly $10 billion. Just this month, the company officially converted to a public limited entityanother step toward the listing finish line. Warning! GuruFocus has detected 8 Warning Signs with KKR. Momentum has been building. Lenskart raised $200 million in June 2024 from Temasek and Fidelity at a $5 billion valuation. By April, Fidelity marked up its internal valuation to $6.1 billion. That quiet upgrade hints at growing institutional optimism ahead of the IPO. With Indian stocks rebounding after a rocky Q1, Lenskart is one of several firms jumping back into the public market pipelinethis one with serious firepower behind it. The deal is being handled by a seasoned lineup: Kotak Mahindra Capital, Axis Capital, Citigroup, Morgan Stanley, and Avendus. If markets hold steady, this could be one of the year's headline IPOs out of Indiaan early test of global demand for scaled, tech-enabled consumer brands from the region. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
India's Eyewear Unicorn Is Going Public -- And It Could Be a $10B Market Shocker
India's top eyewear retailer, Lenskart, is gearing up for a major public debut that could raise around $1 billion. Backed by Softbank, Abu Dhabi Investment Authority, KKR (NYSE:KKR), and TPG (NASDAQ:TPG), the company is preparing to file its draft red herring prospectus in the coming weeks. Sources familiar with the matter say the IPO could peg Lenskart's valuation at roughly $10 billion. Just this month, the company officially converted to a public limited entityanother step toward the listing finish line. Warning! GuruFocus has detected 8 Warning Signs with KKR. Momentum has been building. Lenskart raised $200 million in June 2024 from Temasek and Fidelity at a $5 billion valuation. By April, Fidelity marked up its internal valuation to $6.1 billion. That quiet upgrade hints at growing institutional optimism ahead of the IPO. With Indian stocks rebounding after a rocky Q1, Lenskart is one of several firms jumping back into the public market pipelinethis one with serious firepower behind it. The deal is being handled by a seasoned lineup: Kotak Mahindra Capital, Axis Capital, Citigroup, Morgan Stanley, and Avendus. If markets hold steady, this could be one of the year's headline IPOs out of Indiaan early test of global demand for scaled, tech-enabled consumer brands from the region. This article first appeared on GuruFocus.
