Softbank-Backed Lenskart Said to Near Filing for $1 Billion IPO

Softbank Group Corp.-backed Lenskart Solutions Pvt, India’s largest eyewear maker, is preparing to file preliminary documents in the coming weeks for an initial public offering that may fetch about $1 billion, according to people familiar with the matter.

Lenskart is preparing to submit a draft red herring prospectus for the listing, which would value the company at about $10 billion, the people said, asking not to be identified because the information is private. Earlier this month, the company converted itself into a public limited entity as part of its IPO preparations.