IPO on the cards for Lenskart and ShopClues

Ronnie Screwvala, who holds stakes in Lenskart and ShopClues, says in next two years both the e-commerce firms Lenskart and ShopClues may go for Initial Public Offering (IPO). Meanwhile, Lenskart, an eyewear products seller, which is expected to clock Rs 600 crore revenues this year may get into operational profits from this month onwards.

Screwvala invested Rs100 crore and holds 18 per cent stake in Lenskart, while he put in Rs 40 crore for about 4.5 per cent stake in ShopClues. Lenskart, which has both online and offline presence, has till date raised around Rs 700 crore from various sources, with private equity firm TPG Global being one of the lead investors.

Established in 2011, ShopClues has over six lakh merchants. With over 28 million listed products, it gets more than 72 million monthly visits on its platform. Total revenue from operations grew 11.7 per cent to Rs180.30 crore in 2016-17, from Rs 161.40 crore in the preceding fiscal.