Peyush Bansal’s Lenskart Just Went Public (On Paper): Is An IPO Next?

Gurugram-headquartered eyewear maker Lenskart has officially declared itself as a public firm ahead of its highly antcipated  initial public offering (IPO).

The company’s board passed a special resolution to change its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited during an extraordinary general meeting on May 30.

The move indicates Lenskart’s intent to list on one or more Indian stock exchanges, however, the company has not yet disclosed the size or the timing of the issue.

Reportedly, tthe co-founder Peyush Bansal led firm has called on bankers to pitch for its upcoming IPO through which the firm intends to raise within the range of  USD 750 million and USD 1 billion

Notably, Lenskart was in advanced talks to appoint a consortium of bankers, which included Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley and Avendus Capital, to direct its IPO process.

Lenskart IPO 2025

Lenskart's IPO makes it one of the biggest IPOs in India’s new-age consumer tech space.

Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal and Sumeet Kapahi, Lenskart has grown into India’s largest omni-channel eyewear brand, with an online presence as well as more than 2,000 physical stores.

The company entered the unicorn club in 2019 and is backed by marquee investors such as SoftBank, Temasek, Abu Dhabi Investment Authority (ADIA), Alpha Wave Global, KKR, Kedaara Capital and TPG.

In June 2024, Lenskart raised USD 200 million from Temasek and Fidelity at a USD 5 billion valuation. However, its financials saw a dip in FY24. It posted a net loss of Rs 10 crore on operating revenue of Rs 5,427 crore, according to regulatory filings. It had previously been profitable.

Lenskart’s IPO would be closely watched, not only as a test of investor appetite for consumer brands but also as a bellwether for other profitable or near-profitable startups seeking to tap the market after a long dry spell.

If successful, it would further cement Lenskart’s position as the leading player in India’s eyewear space.