IPO Alert: Lenskart Gets Shareholders Approval to Raise ₹2,150 Crore

Lenskart, India’s leading omnichannel eyewear retailer, has received shareholder approval to launch its much-anticipated initial public offering (IPO). As per regulatory filings sourced from the Registrar of Companies (RoC), the move was cleared during the company’s annual general meeting held on Saturday. With strong financial performance, global expansion, and strategic leadership appointments, Lenskart is positioning itself for a significant presence in the public markets.

IPO Plans Receive Green Signal

Lenskart’s shareholders have given the nod to raise ₹2,150 crore ($250 million) through the IPO. People familiar with the matter suggest that the total issue size may be as large as $1 billion. The company is expected to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) in the coming days. 

This development places Lenskart among a growing list of new-age firms, including Groww, Meesho, PhysicsWallah, and Pine Labs, that are planning to tap into the capital markets in 2025. Collectively, around 14 venture-backed companies aim to raise more than 20,000 crore from public investors this year, as per news reports.

Key shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity, and Temasek, have also approved the introduction of a new employee stock option plan: ESOP 2025, consisting of 7.2 million shares. According to data from Tracxn, 19% of the company’s shares are currently allocated to its ESOP pool.

Furthermore, Lenskart has approved the issuance of additional shares to founder and CEO Peyush Bansal through a structured payout that could raise his stake by 1.5-2%. Together with his sister and cofounder Neha Bansal, the Bansal siblings currently hold 14-15% of the company.

Scaling Up Global Operations 

Lenskart continues to strengthen its footprint both domestically and internationally. The company currently operates in India, the Middle East, Southeast Asia, Australia, Japan, and South Korea. In FY24, Lenskart reported an impressive 43% year-on-year rise in operating revenue to ₹5,428 crore, while reducing its net loss significantly from ₹64 crore in FY23 to ₹10 crore.

As per Economic Times reports, Peyush Bansal confirmed a $200 million investment in a new manufacturing plant in southern India to boost production capacity. Presently, the company’s manufacturing operations are based in Rajasthan, where it produces frames and lenses.

Read More: Lenskart Strong FY25: $755 Million Revenue, Over $200 Million Cash Ahead of IPO!

Conclusion

With a compelling growth story, strategic leadership, and expanding global reach, Lenskart is well-positioned to enter the public markets. The IPO not only marks a new chapter for the company but also reflects the growing maturity and ambitions of India’s startup ecosystem.

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