The company, based in the National Capital Region (NCR), is aiming for a $10 billion initial public offering (IPO), with the public issue expected to exceed $1 billion. This move follows Lenskart’s recent transition to a public limited company after a special board resolution. As per regulatory filings, the company has removed ‘private’ from its name, changing from Lenskart Solutions Private Limited to Lenskart Solutions Limited.
Led by Peyush Bansal, Lenskart is joining several startups choosing the Securities and Exchange Board of India’s (SEBI) confidential IPO filing process. The successful listing of Swiggy, which took this route and debuted on the stock exchanges in November last year, has encouraged other late-stage startups like Groww, Shiprocket, PhysicsWallah, and Oyo to consider this option.
Founded by Peyush Bansal, Amit Chaudhury, and Sumeet Kapahi, Lenskart offers prescription glasses, sunglasses, and eyewear accessories across India, the UAE, Singapore, and Japan. The company last raised $200 million through secondary investment from Temasek and Fidelity Management and Research Company in June last year and has attracted over $1 billion in investments over the past 18 months.
As it prepares to enter the public markets, the SoftBank-backed firm has focused on profitability over the last year — a key consideration for retail investors. It reduced its losses by 84% in FY24, recording a loss of Rs 10.15 crore compared to Rs 63.7 crore in FY23. During the same period, operating revenue increased by 43.2%, reaching Rs 5427.7 crore, up from Rs 3788.02 crore in FY23.
