Latest news with #SoftBank-backed
Time of India
13 hours ago
- Business
- Time of India
SoftBank-backed Lenskart files papers for Rs 2,150 crore issue
SoftBank-backed Lenskart , India's biggest eyewear retailer, filed for an initial public offering, which will include the issue of Rs 2,150 crore ($247.58 million) of fresh shares, its draft prospectus showed on Tuesday. 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. Explore courses from Top Institutes in Please select course: Select a Course Category MCA Technology Management Finance others healthcare Others Data Analytics Digital Marketing Design Thinking MBA CXO Product Management Healthcare Operations Management Project Management Public Policy PGDM Artificial Intelligence Degree Leadership Data Science Data Science Cybersecurity Skills you'll gain: Programming Proficiency Data Handling & Analysis Cybersecurity Awareness & Skills Artificial Intelligence & Machine Learning Duration: 24 Months Vellore Institute of Technology VIT Master of Computer Applications Starts on Aug 14, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Chittagong - Watch What Happens Happy in Shape Undo 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. 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.
Time of India
a day ago
- Business
- Time of India
SoftBank-backed Lenskart plans to file $1 billion IPO this week: Report
Indian eyewear retailer 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.
Mint
a day ago
- Business
- Mint
Lenskart IPO: SoftBank-backed company plans to file DRHP for $1 billion IPO this week
Indian eyewear retailer 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. 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. 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. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Recorder
6 days ago
- Business
- Business Recorder
From Amazon to Walmart, global e-commerce firms face regulatory scrutiny in India
Foreign companies operating in India's booming e-commerce sector face many regulatory and legal challenges from authorities investigating them for alleged non-compliance with Indian laws, moves largely aimed at protecting local businesses. Below are some of the ongoing regulatory cases, which include global giants Amazon and Walmart: Walmart's Indian fashion arm Myntra is being investigated for allegedly breaching rules that ban foreign-funded wholesale retailers from selling directly to consumers, India's federal crime fighting agency revealed on July 23, 2025. An Indian antitrust investigation in 2024 found Amazon and Flipkart, violated local competition laws by giving preference to select sellers on their shopping websites. The companies deny any wrongdoing. Samsung, Xiaomi and other smartphone companies also colluded with Amazon and Flipkart to exclusively launch products on their Indian websites in breach of antitrust laws, the investigation found last year. India's financial crime agency has been investigating Amazon and Flipkart separately for alleged breaches of investment rules. In 2024, it raided offices of some sellers operating on Amazon and Flipkart. The federal financial crime fighting agency has also privately sought sales data and other documents from smartphone players including Apple and Xiaomi as part of an investigation into Amazon and Flipkart. India's state-run product certification agency raided the Delhi warehouses of Amazon and Flipkart in March, seizing items that did not meet quality control standards, as it increased its scrutiny of the two firms. India's financial crime agency has asked Flipkart and its founders to explain why they should not face a penalty of $1.35 billion for the alleged violation of foreign investment laws, three sources and an agency official told Reuters in 2021. Meanwhile, Indian consumer products distributors have filed an antitrust case against big fast-delivery businesses Zomato, SoftBank-backed Swiggy and Zepto, calling for an investigation into alleged deep discounting practices. An investigation by India's antitrust body found Zomato and Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents showed.
The Star
6 days ago
- Business
- The Star
Factbox-From Amazon to Walmart, global e-commerce firms face regulatory scrutiny in India
FILE PHOTO: A mobile phone showing an image of Indian online retailer Flipkart is seen in front of a Walmart Inc logo displayed in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/File Photo (Reuters) -Foreign companies operating in India's booming e-commerce sector face many regulatory and legal challenges from authorities investigating them for alleged non-compliance with Indian laws, moves largely aimed at protecting local businesses. Below are some of the ongoing regulatory cases, which include global giants Amazon and Walmart: ** Walmart's Indian fashion arm Myntra is being investigated for allegedly breaching rules that ban foreign-funded wholesale retailers from selling directly to consumers, India's federal crime fighting agency revealed on July 23, 2025. ** An Indian antitrust investigation in 2024 found Amazon and Flipkart, violated local competition laws by giving preference to select sellers on their shopping websites. The companies deny any wrongdoing. ** Samsung, Xiaomi and other smartphone companies also colluded with Amazon and Flipkart to exclusively launch products on their Indian websites in breach of antitrust laws, the investigation found last year. ** India's financial crime agency has been investigating Amazon and Flipkart separately for alleged breaches of investment rules. In 2024, it raided offices of some sellers operating on Amazon and Flipkart. ** The federal financial crime fighting agency has also privately sought sales data and other documents from smartphone players including Apple and Xiaomi as part of an investigation into Amazon and Flipkart. ** India's state-run product certification agency raided the Delhi warehouses of Amazon and Flipkart in March, seizing items that did not meet quality control standards, as it increased its scrutiny of the two firms. ** India's financial crime agency has asked Flipkart and its founders to explain why they should not face a penalty of $1.35 billion for the alleged violation of foreign investment laws, three sources and an agency official told Reuters in 2021. ** Meanwhile, Indian consumer products distributors have filed an antitrust case against big fast-delivery businesses Zomato, SoftBank-backed Swiggy and Zepto, calling for an investigation into alleged deep discounting practices. ** An investigation by India's antitrust body found Zomato and Swiggy breached competition laws, with their business practices favouring select restaurants listed on their platforms, documents showed. (Reporting by Chandini Monnappa and Hritam Mukherjee in Bengaluru; Editing by Aditya Kalra and Rachna Uppal)
