Softbank-backed Lenskart set to file for $1 bn IPO in coming weeks

Lenskart, the omnichannel eyewear retailer backed by SoftBank, is set to file its draft papers for an Initial Public Offering (IPO) in the coming weeks. The company is aiming to raise approximately $1 billion through its public market debut, which is poised to be one of the largest IPOs by an Indian startup. Lenskart has been aggressively expanding its physical store network in India and Southeast Asia, alongside its robust online presence. The funds raised from the IPO will be used to fuel this expansion, invest in technology, and further strengthen its supply chain and manufacturing capabilities. The company is reportedly planning to use the confidential filing route with SEBI, which allows it to keep its financial details private for a longer period. This much-anticipated IPO is a testament to the company's strong growth and its leadership position in the organized eyewear market.