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Time of India
6 days ago
- Business
- Time of India
Lenskart's Bansal set to join list of founders with pre-IPO stake boosts
Academy Empower your mind, elevate your skills ETtech Omnichannel eyewear retailer Lenskart is likely to issue additional shares to its founder and CEO Peyush Bansal through a structured payout arrangement, which could increase his stake in the public markets-bound company by 1.5-2%, said people briefed on the and his wife Neha Bansal, also a cofounder, currently hold a combined stake of about 12-13% in the move reflects a broader trend among consumer tech and internet companies, such as Zomato (now Eternal), Swiggy PB Fintech and Freshworks, which have awarded stock to founders ahead of their initial public offerings (IPOs) through various mechanisms.'The transaction is yet to be finalised but Bansal is likely to be allotted shares at a fair market value as determined by the bankers and the auditors. This will result in his stake going up by roughly 1.5–2%,' said one of the persons, who did not wish to be June 2024, the Bansals along with founders Amit Choudhary and Sumeet Kapahi had invested around $20 million in the executives said that for companies raising significant capital, founder stakes often get diluted, and that pre-IPO stock grants serve as a way to compensate and retain them.'It's quite common for founders to increase their stake ahead of an IPO... They see the upside and approach the board, citing their low shareholding. When a founder's stake drops significantly, boards often accommodate by allocating shares through expanded Esop (equity stock ownership plan) pools or other mechanisms,' said Anshuman Das, CEO of executive staffing firm is facilitated through increasing the Esop pool, buying out an existing investor or preferential allotments, Das said, adding, 'In large consumer tech or internet firms, heavy fundraising often leads to substantial dilution of founder equity.'Such a practice is common among new-age, venture-backed companies where founders often see greater dilution, unlike in traditional businesses where promoters retain a larger are milestone events for investors and boards tend to be more open to rewarding founders for steering the company to that point, as they should also benefit from the value created. In larger companies, where promoters hold a bigger stake, that upside comes through post-IPO share gains, said another industry sent to Lenskart did not elicit a response till press and grocery delivery company Swiggy had granted employee stock options worth around $271 million to its top management in its latest stock-based compensation plan implemented in April last year. Around $200 million worth of options from this were granted to founder and group CEO Sriharsha Majety. Swiggy listed on the bourses in November to this, in 2021, Zomato's board granted founder and CEO Deepinder Goyal 368 million stock options with a six-year exercise window that could effectively double his stake in the company from nearly 4% at tech startups, such as Freshworks, Delhivery and PB Fintech, that went public after Zomato also granted stock-based awards to their founders and top management prior to their IPOs, particularly in cases where founder stakes were under 10%. These executives include Freshworks founder and then CEO Girish Mathrubootham, Delhivery founder and CEO Sahil Barua and PB Fintech founders Yashish Dahiya and Alok cofounders Sahil Barua and Kapil Bharati along with other senior executives at the time were allotted shares worth Rs 25 crore each. Similarly, prior to the company's 2021 IPO, Policybazaar parent PB Fintech had granted 10.2 million shares to founders Dahiya and Bansal as part of its 2021 Esop scheme that was announced ahead of its public plans to file its draft IPO papers this year , targeting a potential $10 billion valuation for a $1 billion public issue, ET had reported of the persons said that the company has been meeting public market investors and that the IPO size and valuation will be finalised depending on broader market last round of funding in June 2024 valued the company at $5 billion. US-based Fidelity marked up the valuation of the omnichannel eyewear retailer by more than a fifth to $6.1 billion at the end of April 2023-24, the Gurgaon-based company's net loss shrank to Rs 10 crore from Rs 64 crore in the previous financial year, which the company attributed to technology-driven operational efficiencies. Operating revenue increased 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation and amortisation more than doubled to Rs 856 crore.
Time of India
14-06-2025
- Business
- Time of India
Fidelity marks up IPO-bound Lenskart's valuation to $6.1 billion
A fund managed by US-based Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart by over a fifth to $6.1 billion at the end of April 30, according to a monthly portfolio holdings update by the financial services major. This marks a 21% increase of the company's fair value in Fidelity's books compared to the $5 billion valuation at which it acquired the shares in June 2024 during a secondary transaction that also saw Singapore's Temasek join Lenskart's roster of blue-chip investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Crossover funds such as Fidelity, which invest both in publicly traded and privately held companies, periodically review the valuation of their portfolio companies. To be sure, the fair value of a company is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable peers. Since inception in 2010, Lenskart has closed nearly $2 billion in funding, including secondary deals. It is due to set up its largest eyewear manufacturing facility in Telangana with an investment of about Rs 1,500 crore. Live Events As reported by ET, the eyewear retailer is considering a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round as reported by ET. Earlier this month, Lenskart converted into a public company by changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. Lenskart had closed a $200 million secondary round last June at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and Fidelity. Separately, in July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the company. Previously, in March 2023, Lenskart had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, $450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at $4.5 billion. Lenskart bagged the top honour at The Economic Times Startup Awards 2024 . It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. The Gurugram- based company produces about 25 million frames and 30–40 million lenses annually. It operates over 2,500 stores across India and Southeast Asia in addition to a strong online presence. The company has yet to file financial statements for fiscal year 2025 with the Registrar of Companies.
Time of India
14-06-2025
- Business
- Time of India
Fidelity Adjusts Lens, Kart Valuation Surges to $6.1B
Live Events A fund managed by US-based Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart by over a fifth to $6.1 billion at April-end, according to a monthly portfolio holdings update by the financial services marks a 21% increase of the company's fair value in Fidelity's books compared to the $5 billion valuation at which it acquired the shares in June 2024 during a secondary transaction that also saw Singapore's Temasek join Lenskart's roster of blue-chip funds such as Fidelity, which invest both in publicly traded and privately held companies, periodically review the valuation of their portfolio value is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable inception in 2010, Lenskart has closed nearly $2 billion in funding, including secondary deals. It is due to set up its largest eyewear manufacturing facility in Telangana with an investment of about ₹1,500 eyewear retailer is considering a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round, ET reported this month, Lenskart converted into a public company by changing its registered name from Lenskart Solutions Pvt Ltd to Lenskart Solutions Ltd through a special resolution passed by shareholders. It had closed a $200 million secondary round last June at a $5 billion round saw investments from Singapore's sovereign fund Temasek and Fidelity. Separately, in July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 in March 2023, Lenskart had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, $450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at $4.5 bagged the top honour at The Economic Times Startup Awards 2024. It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category.
Time of India
13-06-2025
- Business
- Time of India
Fidelity marks up Lenskart valuation to $6.1 billion
A fund managed by US-based financial services major Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart to USD 6.1 billion. This is a 21 per cent increase of the company's fair value in its books compared to the USD 5 billion valuation at which it acquired the shares. According to a monthly portfolio holdings update published by Fidelity, the latest valuation for Lenskart is as of April 30. Crossover funds such as Fidelity, which invest in both publicly traded and privately held companies, periodically review the valuation of their portfolio companies. The fair value is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable peers. Gurugram-based Lenskart is considering a USD 1 billion public offering at a potential USD 10 billion valuation, double that of its last funding round, ET had reported earlier. Earlier this month, Lenskart converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its shareholders. The company closed a USD 200 million secondary round last June at a USD 5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost USD 20 million in the company. Prior to this, in a March 2023 round, Lenskart had raised USD 600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, USD 450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at USD 4.5 billion. Lenskart bagged the top honour at The Economic Times Startup Awards 2024. It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new category. In FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43 per cent to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 crore. The company is yet to file financial statements for fiscal year 2025 with the Registrar of Companies.
Time of India
13-06-2025
- Business
- Time of India
Fidelity marks up Lenskart valuation to $6.1 billion
Fidelity has increased Lenskart's valuation to $6.1 billion, a 21% rise from its previous $5 billion valuation. The omnichannel eyewear retailer is preparing for a potential $1 billion IPO at a $10 billion valuation. Lenskart's FY24 net loss decreased significantly, while operating revenue and EBITDA saw substantial growth, highlighting its strong financial performance. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads A fund managed by US-based financial services major Fidelity has marked up the valuation of omnichannel eyewear retailer Lenskart to $6.1 billion. This is a 21% increase of the company's fair value in its books compared to the $5 billion valuation at which it acquired the to a monthly portfolio holdings update published by Fidelity, the latest valuation for Lenskart is as of April funds such as Fidelity, which invest in both publicly traded and privately held companies, periodically review the valuation of their portfolio companies. The fair value is ascertained on the basis of a number of factors, including financials shared with investors, market conditions and the performance of comparable Lenskart is considering a $1 billion public offering at a potential $10 billion valuation, double that of its last funding round, ET had reported this month, Lenskart converted itself into a public company as it prepares for a public listing, changing its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited through a special resolution passed by its company closed a $200 million secondary round last June at a $5 billion valuation, with investments from Singapore's sovereign fund Temasek and US financial services giant Fidelity. In July 2024, Lenskart founders Peyush Bansal , Neha Bansal, Amit Choudhary, and Sumeet Kapahi had invested almost $20 million in the to this, in a March 2023 round, Lenskart had raised $600 million from Abu Dhabi Investment Authority and ChrysCapital. Of this, $450 million was a secondary share sale, which allowed existing investors such as SoftBank and Chiratae Ventures to partially sell their stake in the company. This round had valued Lenskart at $4.5 bagged the top honour at The Economic Times Startup Awards 2024. It was named the Startup of the Year by an elite jury for its success in building a fast-growing, large-scale omnichannel consumer retail venture while creating an entirely new FY24, Lenskart's net loss shrank to Rs 10 crore from Rs 64 crore in FY23, which the company attributed to technology-driven operational efficiencies. Operating revenue rose 43% to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortisation (Ebitda) more than doubled to Rs 856 company is yet to file financial statements for fiscal year 2025 with the Registrar of Companies.
