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Fidelity raises Lenskart's valuation to $6.1B ahead of IPO
13 Jun 2025

Fidelity, a leading US-based financial services firm, has revised its valuation of Indian eyewear retailer Lenskart to $6.1 billion.

The new valuation marks a 21% increase from the previous $5 billion assessment at which Fidelity had purchased shares in Lenskart.

The updated figure was revealed in Fidelity's latest monthly portfolio holdings update as of April 30.

Lenskart aims for $1 billion IPO
IPO preparations

Lenskart, based in Gurugram, is gearing up for a $1 billion public offering at a projected valuation of $10 billion. This would be double the valuation from its last funding round.

Earlier this month, Lenskart converted itself into a public company by changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited.

Net loss shrinks to ₹10 crore in FY24
Financial growth

In the fiscal year 2024 (FY24), Lenskart's net loss decreased significantly to ₹10 crore from ₹64 crore in the previous fiscal.

The company attributed this improvement to technology-driven operational efficiencies.

Its operating revenue also rose by an impressive 43% to ₹5,428 crore during this period.

The company's earnings before interest, tax, depreciation, and amortization (EBITDA) more than doubled to ₹856 crore.

Lenskart's previous funding rounds
Investment rounds

In June 2024, Lenskart closed a $200 million secondary round at a $5 billion valuation.

The round saw participation from Singapore's sovereign fund Temasek and Fidelity.

Earlier, in March 2023, the company had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital.

Out of this amount, $450 million was a secondary share sale that let existing investors like SoftBank and Chiratae Ventures partially offload their stakes in the company.