Lenskart Becomes Public Company Ahead of Anticipated $1 Billion IPO
- ByStartupStory | June 9, 2025
Eyewear giant Lenskart has officially transitioned into a public company, a significant step as it gears up for a potential $1-billion initial public offering (IPO). The company’s board approved a resolution to change its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited during an extraordinary general meeting held on May 30.
The name change signals Lenskart’s preparation to list on one or more Indian stock exchanges, though the company has not yet disclosed the proposed size or timing of the IPO. In its regulatory filing, Lenskart stated that the transition to a public entity will enable it to proceed with its planned public offer, but did not share further specifics.
This development comes shortly after reports that Lenskart is in advanced discussions to onboard a consortium of investment banks—including Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital—to lead the IPO process. Sources cited by Moneycontrol suggest the eyewear company is targeting a public issue exceeding $1 billion, potentially making it one of the largest IPOs in India’s consumer tech space.
Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has emerged as India’s largest omni-channel eyewear retailer. The Gurugram-based company operates more than 2,000 stores across India and has a strong online presence. It entered the unicorn club in 2019 and has attracted capital from global investors including SoftBank, Temasek, ADIA, Alpha Wave Global, KKR, Kedaara Capital, and TPG.
In June 2024, Lenskart raised $200 million in fresh funding from Temasek and Fidelity, at a valuation of $5 billion. Despite this, the company reported a net loss of ₹10 crore on operating revenue of ₹5,427 crore in FY24, slipping into the red after previously posting profits.
The potential listing is likely to serve as a barometer for investor confidence in India’s consumer tech and D2C sectors, especially in a market that has seen limited IPO activity over the past year. A successful public debut would further solidify Lenskart’s leadership in the country’s eyewear segment and could pave the way for similar startups to follow suit.
In addition to its IPO ambitions, Lenskart is also expanding its manufacturing footprint. In December 2024, the company signed an MoU with the Telangana government to set up a manufacturing facility at Fab City, with an investment of around ₹1,500 crore. The plant is expected to create approximately 2,100 jobs.
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