Indian eyewear retailer Lenskart Solutions is set to launch an IPO aiming to raise $828.8m, targeting a $8bn valuation. The IPO begins on October 31, with a share price range of Rs382-Rs402. Backed by investors like Softbank, the company plans to issue new shares worth Rs21.5bn and existing shareholders will offer 127.5 million equity shares for sale.

Notable investors like SoftBank’s SVF II Lightbulb (Cayman) Ltd and Kedaara Capital will divest portions of their stakes. Lenskart plans to open 450 new stores this fiscal year, expanding its global presence to over 3,150 stores in 14 countries, a 34% increase from the previous year. The IPO proceeds will fund strategic initiatives detailed in the Red Herring prospectus.

For the fiscal year ended March 31, 2025, Lenskart reported a restated profit of Rs2.97bn, a significant improvement from previous years’ losses. The book-running lead managers for the IPO include Kotak Mahindra Capital Company, Morgan Stanley India Company, and Intensive Fiscal Services.

Read more at Yahoo Finance: Indian eyewear retailer Lenskart seeks $8bn IPO valuation