June 2026
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Largest Consumer E-commerce Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Lenskart, Nykaa, Meesho, Vishal Mega Mart and Brainbees Solutions.
 | Lenskart Solutions Ltd is a technology-driven eyewear company, with a belief that clear vision is fundamental to personal development and well-being. It sells a range of eyewear products including prescription eyeglasses, sunglasses, and other products such as contact lenses and eyewear accessories. | $5 | -- | $9B | $9B | 9.8x | 46.0x | ||
| FSN E-Commerce Ventures Ltd is engaged in the business of manufacturing, selling and distributing beauty, wellness, fitness, personal care, health care, skin care, hair care products, fashion garments, fashion accessories and equipments on the online portals or websites such as e-commerce, m-commerce, internet, intranet as well as through physical stores, stalls, general trade and modern trade etc. In addition, it also provides marketing support services. The group operates in the following segments: Beauty, Fashion, and Others. The majority of its revenue is generated from the Beauty segment, which comprises online beauty platform, beauty-owned brands, physical retail stores, eB2B distribution business, and Nykaa Man BPC business. Geographically, the group derives key revenue from India. | $3 | +23% | $8B | $8B | 7.7x | 100.5x | ||
| Meesho Ltd is a technology platform that integrates commerce, logistics, and content creation to support e-commerce activities under the Meesho brand. The Company also provides digital financial services by facilitating financing arrangements between non-banking financial companies and sellers to support access to credit, and it operates a supply-chain service for the delivery of groceries and other products. The Company operates through the Marketplace segment, which is a technology platform connecting consumers, sellers, logistics partners, and content creators, and the New Initiatives segment, which includes a low-cost local logistics network for daily essentials and a digital financial services platform. The majority of the Company's revenue is generated from the Marketplace segment. | $2 | -- | $8B | $7B | 5.6x | (61.4x) | ||
| Vishal Mega Mart Ltd is engaged in the wholesale and retail trade of apparel, fast-moving consumer goods, and general merchandise. The group offers products across three product categories: apparel, general merchandise, and fast-moving consumer goods through a pan-India network of nearly 645 Vishal Mega Mart stores. Its brands are Yellow Hippo, Wavelength, Brink, Home Pure, Outshine, Tandem, Home Finery, and Others. The Group operates in the reportable segment of Contract Manufacturing and Wholesale and Retail Trading. | $1 | -15% | $6B | $6B | 4.3x | 28.2x | ||
| Brainbees Solutions Ltd is engaged in the business of buying, selling, advertising, and promoting baby and kids products and Fast Moving Consumer Goods (FMCG) goods on a wholesale basis through various business partners. It also runs the pre-school business for kids through various franchisee partners in India. | $2 | -45% | $1B | $1B | 1.3x | 27.2x | ||
| Nihar Info Global Ltd is engaged in e-commerce and software business in India. The company undertakes the development and/or trade-in sale, import, or export of computer software and carries out the business of Research and development, designing, manufacturing, trading, and dealing in all types of computer software and hardware and renders consultancy services in the field of software development and turnkey projects and solutions. The Company operates in areas like e-Commerce, Software Development, B2B / Bulk Sales, Corporate Sales, and Audio-Visual Systems. | $0 | -- | $609K | $810K | 1.0x | (2.3x) | ||
| Median | $2 | -15% | $7B | $7B | 4.9x | 27.7x |
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