Eyewear giant Lenskart has secured shareholder approval to raise ₹2,150 crore ($250 million) via a fresh issue of shares, paving the way for a public market debut expected to touch $1 billion in total offering size.
Regulatory filings from the Registrar of Companies (RoC) confirm that the approval was granted during the company’s annual general meeting held this past weekend. Alongside the fresh issue, Lenskart also cleared an offer-for-sale (OFS) component, enabling existing investors to offload shares in the upcoming IPO.
The company is now preparing to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), and has already received in-principle board approval to allocate ₹430 crore worth of equity to select investors ahead of the filing.
This move places Lenskart among a growing wave of new-age, venture-backed Indian startups including Groww, Meesho, PhysicsWallah, and Pine Labs—gearing up for public listings in 2025.
Leadership Disclosures and Governance Overhaul
As part of the AGM disclosures, Lenskart detailed remuneration for its top leadership. Founder and CEO Peyush Bansal will draw a fixed annual compensation of ₹6 crore, while co-founders Neha Bansal and Amit Chaudhary are set to receive ₹3 crore each.
The company has also formalized key leadership positions:
- Peyush Bansal: Chairman, Managing Director & CEO
- Neha Bansal: Executive Director
- Amit Chaudhary: Executive Director
In preparation for its IPO and broader market expectations, Lenskart earlier transitioned into a public company and restructured its board. It brought on independent directors with strong fintech backgrounds Sayali Karanjkar (Co-founder, PaySense) and Ashish Kashyap (Founder, IndMoney).
Operational Footprint and Financial Performance
Founded in 2010, Lenskart currently operates over 2,500 retail outlets spanning India and international markets including the Middle East, Southeast Asia, Australia, Japan, and South Korea.
In FY24, the company reported a 43% surge in operating revenue, reaching ₹5,428 crore. Its net loss narrowed significantly to ₹10 crore, down from ₹64 crore in FY23. According to reports from Moneycontrol, FY25 revenue has reached ₹6,415 crore, reflecting strong momentum ahead of the IPO.
With its IPO strategy now in motion, Lenskart is positioning itself as one of the most anticipated listings from India’s consumer-tech sector in 2025.
