Eyewear retail giant Lenskart has officially become a public limited company, transitioning from Lenskart Solutions Private Limited to Lenskart Solutions Limited.
This change was approved during a shareholder meeting and is a key legal prerequisite for companies preparing to go public.
“Only public companies can file papers to bring their shares to the market.”
The company plans to launch an Initial Public Offering (IPO) to raise around USD 1 billion (₹8,600 crore). If successful, Lenskart’s valuation could touch USD 10 billion—double its previous valuation.
“The IPO may come by the end of this year.”
Lenskart had secured USD 200 million in June 2023, placing its valuation at approximately USD 5 billion.
Prominent global investors like Temasek (Singapore) and Fidelity (US) participated in this funding round.
Additionally, in July 2024, Lenskart founders Peyush Bansal, Neha Bansal, Amit Chaudhary, and Sumit Kapahi also injected USD 20 million into the company.
Lenskart boasts annual business worth USD 1 billion. The company produces around 2.5 crore frames and between 3–4 crore lenses annually.
With over 2,500 retail stores across India and Southeast Asia, Lenskart also maintains a strong e-commerce platform to serve digital consumers.
The company has significantly improved its bottom line.
In FY24, Lenskart’s losses narrowed to just ₹10 crore, a major improvement from ₹64 crore in FY23.
“The company says that technology has helped improve operations.”
Revenue rose by 43%, reaching ₹5,428 crore
EBITDA doubled, now standing at ₹856 crore
Lenskart joins a growing list of Indian startups gearing up for IPOs, including Shiprocket, Zetwerk, PhysicsWallah, Infra.Market, Boat, and Bluestone.
So far, Lenskart has raised approximately $2 billion, including primary and secondary rounds—making it one of India’s best-capitalized startups.
Lenskart’s transition into a public limited company signals a major strategic move toward launching its much-anticipated IPO. By shedding its private status, the eyewear brand is aligning itself with regulatory requirements to enter the stock market and tap into public capital.
With a ₹8,600 crore fundraising goal and the potential to double its valuation to USD 10 billion, Lenskart is poised to be one of India's most significant startup listings in 2024.
Backed by global investors like Temasek and Fidelity and reinforced by founder reinvestments, the company showcases strong investor confidence. Its operational scale—spanning 2,500 stores and high-volume lens and frame production—combined with improved profitability, reflects its readiness for public market scrutiny.
As part of a new wave of IPO-bound Indian startups, Lenskart is not just riding a trend but helping define it. With AI, tech-driven efficiency, and scale, it stands out as a future-forward consumer tech enterprise.