Lenskart’s IPO Dreams Get Real as It Drops ‘Private’ Tag
Lenskart, the leading omnichannel eyewear brand, has taken a major step toward going public by officially converting from a private to a public company. The Gurugram-based firm changed its registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited after its shareholders approved the move through a special resolution. This change is a key prerequisite before filing for a highly anticipated initial public offering (IPO).
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The company is reportedly planning to raise around $1 billion through the IPO, potentially valuing Lenskart at an impressive $10 billion — nearly double its valuation during its last funding round.
Last June, Lenskart raised $200 million in a secondary funding round at a $5 billion valuation, with investments from global giants like Singapore’s sovereign wealth fund Temasek and US-based financial services firm Fidelity. Earlier, in July 2024, the company’s founders — Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi — invested close to $20 million of their own money, signaling strong confidence in Lenskart’s future.
Reports in February 2025 indicated that Lenskart aimed to file draft IPO papers by May, depending on market conditions. While the company has not yet officially submitted these documents, the public company status confirms its clear intention to list soon.
Lenskart’s rapid rise is backed by robust numbers: it has crossed a $1 billion annual revenue run rate (about Rs 8,400 crore) and manufactures 25 million frames and 30–40 million lenses each year. Its retail footprint spans over 2,500 stores across India and Southeast Asia, complemented by a strong online presence that combines the best of both worlds for consumers.
This move places the company among several SoftBank-backed startups like Shiprocket, Zetwerk, PhysicsWallah, Infra.Market, Boat, and Bluestone, all preparing to make their public debuts in the near future.
The company narrowed its net loss drastically from Rs 64 crore in FY23 to just Rs 10 crore in FY24, crediting technology-driven efficiencies for the improvement. Operating revenue grew 43% year-over-year to Rs 5,428 crore, while earnings before interest, taxes, depreciation, and amortization (EBITDA) more than doubled, reaching Rs 856 crore. The company has yet to file its financials for 2024-25 with the Registrar of Companies.
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