Lenskart Prepares for Market Debut; Restructures as Public Company

Eyewear brand Lenskart has taken a major step toward going public by converting itself from a private limited company to a public limited company, as per reports by the news website Entrackr.

This structural change, approved through a special shareholder resolution, signals the company’s intent to file for an IPO and access public capital markets.

Lenskart’s Transition to Public Company Status

Eyewear retailer Lenskart has officially transitioned into a public limited company, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited. The move was approved through a special resolution by the company’s shareholders. This legal restructuring is a prerequisite for filing IPO papers with the market regulator, signalling the company’s intent to go public soon.

IPO Plans at $10 Billion Valuation

Lenskart is reportedly preparing for a $1 billion initial public offering (IPO) and targeting a $10 billion valuation, double that of its last funding round. In June 2024, it secured $200 million via a secondary share sale, with Temasek and Fidelity among key investors. This round had valued the company at $5 billion.

Promoter Infusion and Funding History

In a show of confidence, Lenskart’s founding team—including Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi—invested around $20 million into the company in July 2024. Over the years, Lenskart has raised nearly $2 billion in funding, including through secondary share sales. The company is also backed by global investors such as SoftBank, as per the Economic Times news report.

Financial Performance in FY24

Lenskart saw a notable improvement in its financials during FY24.

• Net loss narrowed to ₹10 crore from ₹64 crore in FY23.
• Operating revenue rose 43% to ₹5,428 crore.
• EBITDA more than doubled to ₹856 crore.

The company attributed these gains to technology-led operational efficiencies. As of now, Lenskart has not yet filed FY25 financials with the Registrar of Companies (RoC).

Among the IPO-Ready Startup Pack

With this move, Lenskart joins a growing group of Indian startups, such as PhysicsWallah, Infra .Market, Shiprocket, Zetwerk, Bluestone, Boat, and others, that are preparing for public listings. These companies represent a new wave of tech-first Indian firms making their way to public markets.

Read More: Upcoming IPOs This Week: One Mainboard and 2 SME IPOs to Hit D-Street This Week.

Conclusion

Lenskart’s conversion to a public limited company marks a key procedural step toward its IPO readiness. The restructuring aligns with regulatory requirements for listing and reflects the company’s progress in formalising its corporate structure. With improved financials and a history of strong investor backing, Lenskart has now completed a necessary milestone on the path to becoming a publicly listed entity.

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