SoftBank-backed Lenskart plans to file $1 billion IPO this week: Report
Lenskart Solutions Pvt.
is planning to file for an
initial public offering
of about $1 billion as early as this week, according to people familiar with the matter.
The company, backed by
SoftBank
Group Corp., is finalizing the valuation as it prepares to submit its draft red herring prospects with the market regulator, the people said, asking not to be identified as the deliberations are private.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
Degree
Product Management
Healthcare
healthcare
Design Thinking
Project Management
Finance
Cybersecurity
Others
Leadership
Digital Marketing
Data Science
Management
Operations Management
PGDM
MCA
Data Science
Data Analytics
Technology
others
MBA
Artificial Intelligence
Public Policy
CXO
Skills you'll gain:
Data-Driven Decision-Making
Strategic Leadership and Transformation
Global Business Acumen
Comprehensive Business Expertise
Duration:
2 Years
University of Western Australia
UWA Global MBA
Starts on
Jun 28, 2024
Get Details
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Sleep Apnea Ruined My Life – Then I Found This Simple Trick
Health Insight
Undo
A spokesperson for
Lenskart
didn't immediately respond to a request for comment.
Global investors such as
Abu Dhabi Investment Authority
, KKR & Co., and TPG Inc. are among the backers of the company founded in 2010. With the potential
IPO
, Lenskart joins the rush for listings in India as shares bounce back from their April low on easing fears of a damaging global trade war and the nation's growth prospects.
The offering comes as Indian technology startups increasingly turn to the local stock market instead of share sales overseas. Another SoftBank-backed firm InModi Pte is aiming to file for a $1 billion IPO this year, according to people familiar with the matter.
Live Events
In June 2024, Lenskart raised $200 million from Temasek Holdings Pte and Fidelity Management & Research at a $5 billion valuation, according to Avendus Capital Pvt., an advisor on the deal. Fidelity has since revised its internal estimate of the company's value to $6.1 billion, based on April portfolio disclosures.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
39 minutes ago
- Time of India
Some worry, others breathe a sigh of relief: How countries are responding to new US tariffs imposed by Trump administration
US President Donald Trump announced a fresh wave of tariffs on exports from dozens of trading partners. Trump's latest tariff move sent global stock markets tumbling and prompted countries and companies to scramble to find ways to strike better deals with Washington. The new tariffs announced by the Trump administration included Switzerland's 39 percent tariff, which saw the highest tariff rates since the early 1930s. It sought more talks, as did India, hit with a 25% rate. New tariffs also include a 35% duty on many goods from Canada, 50% for Brazil, and 20% for Taiwan, which said its rate was "temporary" and expected to reach a lower figure. Explore courses from Top Institutes in Please select course: Select a Course Category Finance Data Analytics CXO Technology Project Management Degree Cybersecurity MBA Data Science healthcare Product Management Data Science MCA Leadership Artificial Intelligence Healthcare Operations Management Others others Public Policy PGDM Design Thinking Digital Marketing Management Skills you'll gain: Duration: 9 Months IIM Calcutta SEPO - IIMC CFO India Starts on undefined Get Details Skills you'll gain: Duration: 7 Months S P Jain Institute of Management and Research CERT-SPJIMR Fintech & Blockchain India Starts on undefined Get Details The presidential order listed higher import duty rates of 10% to 41% starting in a week for 69 trading partners, taking the U.S. effective tariff rate to about 18%, from 2.3% last year, according to analysts at Capital Economics, as reported by Reuters. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo Global leaders began their day facing a new set of US tariffs on their exports. These tariffs are set to take effect next week and impact almost every country. While most nations are facing increased tariffs, a few are breathing a sigh of relief after securing last-minute deals. Trump's new tariff rates: Here's how some countries reacted Live Events New Zealand's Trade Minister Tom McClay called the increased tariffs unjustified after the country's exports to the US were hit with a 15% base rate, up from 10%, according to CNN. In Switzerland, the government expressed "great regret" over the US decision to impose 39% tariffs on Swiss imports, despite progress in bilateral talks and Switzerland's "very constructive stance." Australian Trade Minister Don Farrell praised the 10% tariff rate—the lowest announced by the White House—calling it a 'vindication' of how the government handled diplomacy with the US. Bangladesh called the outcome of its trade talks with the US a 'decisive diplomatic victory' after Trump announced a 20% tariff on Bangladeshi goods. The rate announced in April 2025 was 37 percent. Malaysia, which was at risk of a 24% tariff on its exports, was able to negotiate it down to 19%—a result its trade ministry described as a 'significant achievement.' Cambodia, after reaching a deal with the US, will now face a 19% tariff instead of the originally announced 49%. South Africa, facing the highest tariff rate at 30%, said discussions with the US will continue. President Cyril Ramaphosa stated that negotiations are the best path forward. Wall Street sell-off sparked by tariff onslaught Wall Street's main indexes led a global selloff on Friday as new U.S. tariffs on dozens of trading partners weighed on sentiment, while a weaker-than-expected payrolls report added to risk aversion. Just hours before the tariff deadline on Friday, President Donald Trump signed an executive order imposing duties on U.S. imports from countries including Canada, Brazil, India, and Taiwan, even as countries scrambled to seek ways to strike better deals. Data showed U.S. job growth slowed more than expected in July 2025, while the prior month's report was revised sharply lower, pointing to a sharp moderation in the labor market. U.S. stocks took an immediate hit. By early afternoon on Friday (August 1, 2025), the Dow Jones Industrial Average had dropped 0.96% to 43,708.00, the S&P 500 1.21% to 6,262.88, and the Nasdaq Composite 1.65% to 20,773.64. Markets were also reacting to a disappointing jobs report. Data showed U.S. job growth slowed more than expected in July, while the prior month's data was revised sharply lower, pointing to a slowdown in the labor market. Global shares stumbled, with Europe's STOXX 600 down 1.89% on the day and 2.5% on the week, on track for its biggest weekly drop since Trump announced his first major wave of tariffs on April 2. Trump's new tariffs have created yet more uncertainty, with many details unclear. They are set to take effect on Aug 7 at 0401 GMT, a White House official said. The European Union, which struck a framework deal with Trump, is still awaiting further Trump orders to deliver on agreed-upon carve-outs, including those for cars and aircraft, EU officials said, noting that the latest executive orders did not cover these areas.
Time of India
41 minutes ago
- Time of India
'We need accurate numbers': Trump fires BLS chief Erika McEntarfer after weak July jobs report; claims 'Biden appointee' manipulated data
BLS commissioner Erika McEntarfer, left, and US President Donald Trump ( Image credits: X) US President Donald Trump on Friday dismissed bureau of labor statistics (BLS) commissioner Erika McEntarfer, just hours after the agency released a weaker-than-expected July jobs report. In a post on Truth Social, he accused Erika McEntarfer, a Biden appointee, of manipulating employment figures for political purposes. 'I was just informed that our Country's 'Jobs Numbers' are being produced by a Biden Appointee, Dr Erika McEntarfer, the Commissioner of Labor Statistics, who faked the Jobs Numbers before the Election to try and boost Kamala's chances of Victory,' he wrote in his post. 'This is the same Bureau of Labor Statistics that overstated the Jobs Growth in March 2024 by approximately 818,000 and, then again, right before the 2024 Presidential Election, in August and September, by 112,000. These were Records — No one can be that wrong? We need accurate Jobs Numbers. I have directed my Team to fire this Biden Political Appointee, IMMEDIATELY. She will be replaced with someone much more competent and qualified,' he added. The BLS reported a gain of just 73,000 nonfarm jobs in July—well below market expectations. The agency also revised job gains for May and June downward by a combined 258,000, bringing the three-month average to just 35,000. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo It was the steepest two-month revision since April 2020. 'McEntarfer said there were only 73,000 Jobs added (a shock!) but, more importantly, that a major mistake was made by them, 258,000 Jobs downward, in the prior two months. Similar things happened in the first part of the year, always to the negative,' Trump wrote. NBC News confirmed McEntarfer's dismissal. The BLS, under the department of labor, has not commented. Labor secretary Lori Chavez-DeRemer, a Trump appointee, oversees the agency. Trump and congressional Republicans have long criticized the BLS, particularly over large data revisions. In this year's budget proposal, Trump called for an 8% staffing cut at the agency, raising concerns about the quality and reliability of its economic data. The weak jobs report triggered a market sell-off, with the Dow Jones Industrial Average falling more than 500 points and the Nasdaq dropping over 2%. Treasury yields also declined. Trump also renewed his attacks on federal reserve chair Jerome Powell. "The Economy is BOOMING under 'TRUMP' despite a Fed that also plays games, this time with Interest Rates, where they lowered them twice, and substantially, just before the Presidential Election, I assume in the hopes of getting 'Kamala' elected – How did that work out? He wrote. 'Jerome 'Too Late' Powell should also be put 'out to pasture.' The Federal Reserve kept its benchmark interest rate unchanged this week, but Friday's weak jobs data has increased expectations of a possible rate cut in September.
Time of India
41 minutes ago
- Time of India
Trump is either blind or ill-informed: Former PM HD Deve Gowda
NEW DELHI: Amidst the govt's strong assertion in the wake of US's 25% tariff imposition that the country will protect its interests, former prime minister H D Deve Gowda on Friday reacted angrily to American President Donald Trump 's remarks on India, calling him the most "volatile, uncivil and irresponsible" head of state in modern history. In a statement, the JD(S) leader said he was "surprised" by Trump's "baseless and ill-tempered remarks" on India and the Indian economy. "I don't think modern history has seen another head of state who has been so volatile, uncivil and irresponsible. Mr Trump has behaved badly not just with India, but with every other country across the world. He has not spared his own longstanding allies," Gowda said. Responding to Trump's characterisation of Indian economy as "dead", the former prime minister said, "India has been the fastest growing economy and is the fifth largest economy in the globe. Mr Trump must either be blind or ill-informed to designate our economy as 'dead'." He praised Prime Minister Narendra Modi's govt for standing firm against Trump's "bullying". "I am very happy and proud that India, under the leadership of Prime Minister Narendra Modi, has not compromised our national interest. It has not blinked to Mr Trump's bullying and has shown that it will never be dictated by threat." Gowda also rebuked some opposition leaders who had "rejoiced" at the statements of Trump and "jumped to be his deluded spokespersons in India".
