Lenskart, one of India’s leading omnichannel eyewear retailers, has seen its valuation rise to $6.1 billion, according to a recent update by global investment firm Fidelity. The updated figure is based on portfolio data as of April 30, 2025, and reflects growing investor confidence as the company moves closer to its initial public offering (IPO).
This marks an increase from Fidelity’s previous valuation of $5.6 billion in November 2024.
The Peyush Bansal-led company has been on a strong growth path, both financially and operationally, as it prepares to go public.
In June 2024, Lenskart raised $200 million through a secondary share sale, followed by an additional $20 million investment led by Bansal himself. With this the total capital raised by the company has now crossed $1 billion. During the June round, the company was valued at $5 billion, and Fidelity was also one of the participating investors.
The IPO is reportedly aimed at raising $1 billion, with a target valuation of $10 billion.
On the business front, Lenskart has shown strong financial performance. In FY24, the company’s losses dropped sharply by 84% to just Rs 10 crore, compared to Rs 63 crore in FY23. Its revenue from operations grew 43% year-on-year, reaching Rs 5,427.7 crore. Results for FY25 are yet to be disclosed.
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