165
/ 1
Min Read
Eyewear giant Lenskart has officially transitioned into a public company, taking a key step toward launching what could become one of India's largest IPOs in the consumer tech space.
At an extraordinary general meeting held on May 30, the company’s board approved a resolution to drop “Private” from its name, changing from Lenskart Solutions Private Limited to Lenskart Solutions Limited. The rebranding signals the firm’s readiness to debut on Indian stock exchanges, though specific IPO details—such as size and launch date—remain under wraps.
The move follows reports that Lenskart is in advanced talks with a consortium of leading investment banks, including Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital, to manage the offering. Sources indicate the company could raise over $1 billion, placing it among the largest public issues by a new-age Indian consumer brand.
Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has grown into India’s leading omni-channel eyewear retailer. With over 2,000 offline stores and a strong online footprint, the company has attracted heavyweight investors such as SoftBank, Temasek, ADIA, Alpha Wave Global, KKR, Kedaara Capital, and TPG.
In June 2024, Lenskart raised $200 million from Temasek and Fidelity at a $5 billion valuation. Despite its rapid expansion, the company reported a net loss of ₹10 crore in FY24 on operating revenue of ₹5,427 crore, reversing earlier profitability.
With its public company status now formalized, Lenskart appears poised to tap public markets and fuel its next phase of growth—cementing its place as a major player in India's fast-evolving consumer tech ecosystem.
