Eyewear retailer Lenskart plans to add 450 stores in the current financial year, its fastest expansion in three years, as the company prepares for a public listing that could value it as much as $10 billion. The addition would increase Lenskart’s store count to over 3,150 across 14 countries, representing a 34 per cent acceleration from the 334 stores opened last year. The company expects to raise as much as ₹8,000 crore ($900 million) through its initial public offering, which could debut before November 12, according to people familiar with the matter. “Lenskart is expected to list on the stock exchanges before November 12, with the final regulatory clearances likely soon,” said a person. “It is expected to raise as much as $900 million in one of India’s top-five IPOs this year.” Industry sources have pegged the company’s valuation anywhere between $8-10 billion. When contacted, Lenskart declined to comment. The firm recently received approval from the Securities and Exchange Board of India (Sebi) for a primary raise of ₹2,150 crore through an IPO. The offering consists of ₹2,150 crore in new shares and the sale of up to 132.3 million existing shares by current investors and company founders. Among selling shareholders are cofounders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumeet Kapahi, as well as investors, including SoftBank’s SVF II Lightbulb (Cayman) Ltd, among others.
