Get ready for one of the biggest IPOs of the year. Lenskart, the eyewear giant led by Shark Tank India’s Peyush Bansal, just got shareholder approval to raise
Get ready for one of the biggest IPOs of the year. Lenskart, the eyewear giant led by Shark Tank India’s Peyush Bansal, just got shareholder approval to raise ₹2,150 crore through a fresh issue of shares. And with an offer-for-sale (OFS) component also cleared, the company is eyeing a total IPO size of $1 billion. That’s right — this is no ordinary listing. It’s a statement.
From a modest online eyewear startup to a multi-billion-dollar tech-retail brand, Lenskart’s rise has been nothing short of spectacular. And now, it’s about to join the league of India’s most valuable consumer tech companies on the public market.
The fresh issue of ₹2,150 crore is aimed at growth and expansion, while the OFS will allow existing investors to partially cash out. The IPO is expected to be filed with the market regulator in the coming days, with eyes on a listing sometime in 2025.
What’s even more impressive? Lenskart is reportedly gunning for a $10 billion valuation at IPO. That would be nearly double the $6.1 billion it was last valued at in private secondary deals.
While many startups burn cash chasing growth, Lenskart is doing something different — it’s making money. In FY24, the company’s revenue jumped 43 percent to ₹5,428 crore. At the same time, net losses dropped sharply from ₹64 crore to just ₹10 crore.
That’s a sign of a company not just scaling, but maturing. And with over 2,500 stores globally, a strong online presence, and fast-growing international operations in Southeast Asia, the Middle East, and beyond, Lenskart is building a true global eyewear empire.
In its recent AGM, Lenskart not only approved the IPO plan — it also laid out who’s earning what:
The company also introduced a major ESOP 2025 plan, with over 7 million stock options allocated to employees, including more than 2 million for senior leadership. That means the team is locked in, aligned, and ready for the ride ahead.
Lenskart isn’t going public alone — it has some serious backers. Global giants like SoftBank, Temasek, Fidelity, Kedaara Capital, and ADIA are expected to participate in the OFS, and many of them may continue to hold a significant stake post-IPO.
Fidelity’s recent stake purchase valued the company at $6.1 billion — and that was before this IPO news broke. With the current market momentum, a $10 billion IPO valuation doesn’t seem out of reach. For investors, this could be a rare chance to get in on a profitable, fast-scaling, tech-enabled consumer brand.
Lenskart is not just opening more stores — it’s investing heavily in infrastructure. The company is building a state-of-the-art manufacturing facility in southern India with an investment of $200 million. This will allow it to produce 50 million frames and lenses annually and reduce dependence on overseas supply chains.
Its tech stack, built on AI, data science, and automation, enables Lenskart to offer precision-fitting eyewear, virtual try-ons, and fast fulfillment — all while maintaining strong margins.
Lenskart is part of a new generation of Indian startups that are finally delivering what public markets want: real revenue, scalable models, and the potential for global leadership.
While earlier IPOs from D2C and tech companies in India saw mixed results, Lenskart’s focus on profitability, brand strength, and omnichannel dominance sets it apart. It’s not just about raising money — it’s about building a business that lasts.
This isn’t just a story about glasses. It’s about vision. Lenskart’s journey from a niche online startup to a multibillion-dollar global brand reflects the evolution of India’s startup ecosystem.
It shows that Indian companies can innovate, scale, and sustain — and that the public markets are ready to reward that.
For everyday investors, Lenskart’s IPO could be one of the most exciting new listings in years. For the startup world, it’s a signal that India is entering a new phase: one where unicorns become public giants.
The company is expected to file its Draft Red Herring Prospectus (DRHP) soon, outlining its financials, use of proceeds, risk factors, and more. The IPO timeline will follow, and if market conditions remain strong, expect Lenskart to hit the exchanges in early to mid-2025.
