Lenskart’s Valuation May Rise To $6 Bn Post New Secondary Deal

Lenskart, an omnichannel eyewear retailer, is reportedly in talks with existing investors Fidelity, Kedaara Capital, among others, for a secondary share sale of $200-300 Mn. The secondary round, if it materializes, would value the Peyush Bansal-led company at $6 Bn, a 20% premium over its previous valuation of $5 Bn. Lenskart posted a net loss of INR 10 Cr on an operating revenue of INR 5,428 Cr in FY24. The company has recorded secondary deals of up to $650 million over the last year, the most by a privately-held startup since the revival of such late-stage deals in the ecosystem. Lenskart more than doubled its growth in FY23 and grew revenue over 40% in FY24 while nearly hitting profits. This has led to interest from investors and a potential IPO in about two years. The company’s strategic initiatives and strong market position have contributed to its increased valuation and investor confidence.