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Lenskart, ShopClues may go for Initial Public Offering
Media baron and private equity investor Ronnie Screwvala, who is holding stakes in Lenskart and ShopClues, said both the e-commerce firms may go for Initial Public Offering (IPO) in the next two years.
Hyderabad: Media baron and private equity investor Ronnie Screwvala, who is holding stakes in Lenskart and ShopClues, said both the e-commerce firms may go for Initial Public Offering (IPO) in the next two years. Screwvala also said, 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.
"Lenskart, we hope to take it to public...ShopClues, we hope to take it to public. There is no time-table for IPO. But I would say in the next two years. I made about Rs 100 crore in Lenskart for 18 per cent stake. ShopClues is much lower. It is about 4.5 per cent. Lenskart may make profits from this month onwards. Today, it makes Rs 50 crore a month revenue and Rs 600 crore a year revenue per annum," the movie maker said on the sidelines of Global Entrepreneurship Summit-2017 being held here.
Screwvala invested Rs 100 crore and holds 18 per cent in Lenskart, while he puts 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.
Founded 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 the operations grew 11.7 percent to Rs 180.30 crore in 2016-17, from Rs 161.40 crore in the preceding fiscal.
"I invested about Rs 350 crore in about 14 ventures. I am not doing any more investment now.
This is my personal money. I have a longer position on the investments," he said when asked about the exit from investments. He said Netflix has partnered with his company RSVP to release Bollywood project "Love Per Square Foot", starring "Masaan" actor Vicky Kaushal.
