Lenskart to launch IPO in 3 years, eyes ₹600 cr biz in 2017-18
NEW DELHI: Online eyewear firm Lenskart plans to launch its initial public offering (IPO) within the next three years to create value and provide exit option to existing shareholders.
“As the company grows, we see IPO will create more value for everybody. We are building values with various investments in technology development in the eyewear segment, and from the IPO will chart out our growth path. We expect to launch it in the next three years,” Lenskart founder and CEO Peyush Bansal said.
Lenskart expects to register 100% revenue growth at around ₹600 crore by the end of 2017-18.
The company has till date raised around ₹700 crore from various sources with private equity investment TPG Global being one of the lead investor.
He said that the company does not require any immediate funding but listing in the market will make the company’s position stronger and give an option for existing investors to exit.
“We are growing 100% yearon-year. Last year, it was around ₹300 crore and this fiscal we expect ₹600 crore. We are operationally in profit. In nthe ext six months we will be EBDITA positive. Investors have smooth exit options at present also. The IPO will provide them another option,” Bansal said.
Lenskart mostly sells its own products from its online platform.
The company has presence across 90 cities and is looking to expand across more tier-2 cities next year, including Coimbatore, Lucknow, Ahmedabad, Surat, Kanpur, Chandigarh, Guwahati, Bhubaneswar etc.