Lenskart mulls fresh secondary share sale at $6 billion valuation

Eyewear and eye-care business Lenskart plans to hold a fresh secondary share sale which could see it valued at $6 billion. This would represent a 20% increase from its valuation this past summer and the secondary share sale could see transactions of between $200 million and $300 million.

“The round’s final structure and size would depend in finding the right number of sellers,” anonymous sources close to the development told the Economic Times. “Multiple investors have held talks for stitching up this round.”
 
A secondary share sale sees new investors purchase shares in a business from from existing investors. This means that the money raised from a secondary share sale does not go to the business itself but to participating investors who may sell off a part of their shares or all of them.
 
“There are conversations underway and there is demand even at $6 billion [valuation] from existing investors,” said one of the Economic Times’ sources. “The key is to find the right sellers. One of the top investors has also been approached for a secondary. This may take some time to reach fruition as demand is higher than available sellers.”
 
Lenskart has reported significant growth in recent financial years and it drew closer to profitability in the 2024 financial year with more than 40% year on year revenue growth. The business is also mulling an initial public offering in the coming few years.