Lenskart gets shareholder approval for IPO, targets Rs 8,500 Cr market debut

Omnichannel eyewear brand Lenskart has secured shareholder approval to go public, setting the stage for one of the biggest initial public offerings by an Indian consumer-tech company, according to filings with the Registrar of Companies.

The company plans to raise Rs 2,150 crore (about $250 million) through a fresh issue of shares as part of the IPO. The proposal was cleared at Lenskart’s annual general meeting on July 26.

The total size of the offering is likely to be around Rs 8,500 crore ($1 billion), including a secondary sale by existing investors, making it one of the largest startup IPOs in India—alongside those of Zomato, Nykaa, and Paytm.

In preparation for the listing, Lenskart converted into a public limited company last month, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited at an extraordinary general meeting held on May 30.

With a targeted valuation of Rs 85,000 crore ($10 billion), the listing would mark a significant moment for India’s consumer internet sector. The company joins a rising cohort of startups, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax, which are also exploring public listings.

Lenskart has also introduced a new stock option plan, ESOP 2025, offering 72.8 lakh options, or 0.43% of the company’s fully diluted equity. Of these, 21.84 lakh options have been earmarked for senior employees at the general manager level and above.

Disclosures from the AGM reveal that CEO, Chairman and Managing Director Peyush Bansal will receive an annual fixed salary of Rs 6 crore. Co-founder Amit Chaudhary and Neha Bansal are each set to draw Rs 3 crore annually.

To further strengthen governance ahead of the IPO, Lenskart’s board has appointed two independent directors: Sayali Karanjkar, co-founder of PaySense, and Ashish Kashyap, founder of INDwealth and former Goibibo executive.

Founded in 2008, Lenskart has grown into one of India’s leading eyewear platforms by blending offline retail, digital commerce, and proprietary manufacturing.

In June last year, the eyewear company had raised $200 million in secondary investment from Temasek and Fidelity Management and Research Company. With this transaction, Lenskart had attracted close to $1 billion capital in over 18 months.