Lenskart’s IPO plan moves ahead with shareholder approval for Rs 2,150 crore fresh issue

New Delhi: Lenskart has received shareholder approval to raise Rs 2,150 crore through a fresh issue of shares as part of its upcoming initial public offering (IPO), according to a resolution passed at its 17th Annual General Meeting held on July 26, 2025.

As per news reports, Lenskart is eyeing a valuation of $10 billion (Rs 85,000 crore), nearly doubling its $5 billion valuation from a $200 million secondary investment round led by Temasek and Fidelity Management in June 2024. 

Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart now operates over 2,500 physical stores alongside its digital channels. 

Financially, Lenskart reported a robust 43% year-on-year revenue growth in FY24, reaching Rs 5,427 crore, with EBITDA doubling to Rs 856 crore. The company reduced its net loss by 84.4% to Rs 10 crore in FY24 from Rs 63.7 crore in FY23. For FY25, Lenskart is projected to achieve revenues of Rs 6,415 crore ($755 million), split across domestic and international markets.

In preparation for the IPO, Lenskart transitioned to a public limited company in May 2025, renaming itself from Lenskart Solutions Private Limited to Lenskart Solutions Limited. The company also introduced ESOP 2025, a new stock option plan offering 72.8 lakh options (0.43% of fully diluted equity), with 21.84 lakh reserved for senior employees at the general manager level and above. Additionally, the AGM disclosed executive remuneration: 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.

To strengthen governance, Lenskart appointed two independent directors: Sayali Karanjkar, co-founder of PaySense, and Ashish Kashyap, founder of INDwealth and former Goibibo executive. 

The company has also engaged five investment banks—Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital—to advise on the IPO, with its Draft Red Herring Prospectus (DRHP) expected to be filed with SEBI in the coming days.