Lenskart founders to earn Rs 12 crore in FY25; CEO Peeyush Bansal gets half

New Delhi: As Lenskart prepares for its initial public offering (IPO), the company has disclosed that its founders will collectively receive Rs 12 crore in annual salaries. 

The remuneration details were revealed during Lenskart’s 17th Annual General Meeting (AGM) on July 26, 2025, as part of filings with the Registrar of Companies (RoC).

According to the disclosures, CEO Peyush Bansal will draw an annual salary of Rs 6 crore, while co-founders Amit Chaudhary and Neha Bansal will each receive Rs 3 crore for FY25. 

The salary structure comes as Lenskart transitions into a public limited company, renaming itself from Lenskart Solutions Private Limited to Lenskart Solutions Limited in May 2025, in preparation for its IPO. 

The company also secured shareholder approval for the IPO, which includes a fresh issue of shares worth Rs 2,150 crore and an offer-for-sale (OFS) by existing investors, with the goal of achieving a $10 billion valuation.

Lenskart, founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, has scaled rapidly to become a dominant player in India’s eyewear market, operating over 2,500 stores and leveraging its online platform with innovations like 3D virtual try-on technology. The company reported a 43% revenue increase to Rs 5,427 crore in FY24, with EBITDA doubling to Rs 856 crore and a significantly reduced net loss of Rs 10 crore, down 84.4% from Rs 63.7 crore in FY23.

The AGM also approved ESOP 2025, a new stock option plan allocating 72.8 lakh options (0.43% of fully diluted equity), with 21.84 lakh reserved for senior employees.

Lenskart has appointed Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital to manage the IPO, with its Draft Red Herring Prospectus (DRHP) expected to be filed with SEBI soon. Backed by investors like SoftBank, Temasek, Fidelity Management, and KKR, Lenskart plans to use IPO proceeds to expand its store network, enhance technology, and pursue further international growth.