Indian eyewear retailer Lenskart Solutions is set to launch its initial public offering (IPO) this week, seeking a valuation of about 695 billion rupees ($7.91 billion).
The company has set a price band of 382-402 rupees ($4.35 to $4.57) per share, Reuters reported, citing a public filing.
The retailer will issue fresh shares worth 21.5 billion rupees in the offering, while existing investors, including its founders, are selling about 128 million shares, according to an updated prospectus.
The IPO will run from October 31 to November 4, with anchor investors submitting bids on October 30.
Founded in 2010 and headquartered in Gurgaon, Lenskart was valued at $6.1 billion as of September 10, according to data from Tracxn. It operates more than 2060 stores in India and over 650 locations overseas.
The company’s larger shareholders, known as ‘promoters’, include Mumbai-based private equity firm Kedaara Capital, Singaporean state investment company Temasek, and Japan’s SoftBank.
In a filing to the Securities and Exchange Board of India (SEBI) in July, the company said the proceeds from the IPO would be used to invest in new company-owned, company-operated stores across the country.
