Lenskart is reportedly in talks with existing investors for a $200-300 million secondary stake sale

In the second round, if it happens, the omnichannel eyewear unicorn would be valued at $6B, 20% higher than its previous valuation of $5B.

Lenskart reported a net loss of INR 10 Cr against operating income of INR 5,428 Cr in FY24

Multi-channel glasses unicorn LensCard It is reportedly in talks with existing investors Fidelity, Kedaara Capital and others for a second share sale. $200-300 Million (approximately INR 1,688-2,532).

According to ET, citing sources, in the second round, if it takes place, the company led by Peyush Bansal will be valued at $6 billion.

This would be 20% premium Above its previous valuation of $5 Billion in JuneWhen Lenskart raised nearly $200 million from Fidelity and Singapore state investment firm Temasek.

The report stated that in addition to Fidelity and Kedaara Capital, there will also be participation of a “significant” third investor who wants to increase their stake in Lenskart in the secondary transaction.

Inc42 reached out to Lenskart co-founder Amit Chaudhary for his comments on the development. The story will be updated based on the answers.

Founded in 2010, Lenskart is one of India’s largest omni-channel eyewear retailers. Beyond domestic borders, it also has a presence in Singapore, UAE and Japan. Lenskart has a customer base of 20 million in India. The company operates more than 2,500 stores, of which around 2,000 are in India.

The Delhi NCR-based company has raised almost $1 billion in funding in the last 18 months, making it one of the largest growth-stage startups in the country.

Lenskart in July this year Raised INR 160 Crores (approximately $19.1 Million) from co-founders Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi.

Last year, it received a $100 million investment from private equity player ChrysCapital. Lenskart raised $500 Million from Abu Dhabi Authority for Investment (ADAI) in early 2023.

Additional funding reports come despite Lenskart 43% increase in operating income to INR 5,427.7 Cr In the financial year 2023-24 (FY24) it stood at INR 3,788 Cr in FY23. Following a boom in sales, the net loss fell 84% to INR 10 Cr in the year under review from 64 Cr in the previous year.

The Indian startup ecosystem witnessed a number of secondary deals in 2024; Some of the early backers have partially withdrawn their stakes in startups such as Capillary, ixigo, Urban Company, Porter and Pocket FM.

Many of these deals came at a discount. Other similar deals like Meesho are reportedly in the works to enable the e-commerce unicorn to raise funds With 20% valuation deductionwhile granting exit rights to some of its existing shareholders.