Lenskart, Billionbrains to cap record month for IPOs

EYEWEAR RETAILER LENSKART Solutions and financial services firm Billionbrains Garage Ventures will raise a combined $1.7 billion via initial public offerings later this month, sources said, adding to India’s deluge of stock listings.

- RAJESH MASCARENHAS & ANTO ANTONY

SoftBank Group-backed Lenskart plans to launch an IPO worth about $900 million, while Billionbrains, the parent of India’s largest investment platform Groww, is targeting $750 million, sources said. Both IPOs are slated for the week of October 27, with stock listings by around November 10, they added.

The two deals will further expand a red-hot Indian IPO market that has already raised over $15 billion this year, following 2024’s record $21 billion, Bloomberg-compiled data show.