Lenskart, the popular eyewear retailer, has received shareholder approval to raise Rs 2,150 crore through a fresh issue in its upcoming initial public offering (IPO). The decision was made during the company’s 17th Annual General Meeting on July 26, 2025.
The IPO will also include an offer-for-sale (OFS) by existing investors, though the exact size was not disclosed. This development follows Lenskart’s recent conversion to a public company, setting the stage for its market debut.
Industry insiders suggest Lenskart aims to raise a total of $1 billion via the IPO, targeting a valuation of $10 billion. If successful, it could become one of the highest-valued startups to go public in India. The company’s last known valuation was $5 billion during a $200 million secondary deal in June 2024.
In preparation for its public listing, Lenskart has introduced a new employee stock option plan (ESOP) for 2025. The scheme offers 72.8 lakh options to eligible employees, representing 0.43% of the fully diluted equity capital. Of these, 21.84 lakh options are earmarked for key employees at the General Manager level and above.
The company has also disclosed the remuneration for its top executives. Peyush Bansal, Chairman, Managing Director, and CEO, will receive an annual salary of Rs 6 crore. Co-founders Neha Bansal and Amit Chaudhary will each earn Rs 3 crore per year.
To strengthen its board oversight, Lenskart has appointed two new independent directors: Sayali Karanjkar, co-founder of PaySense, and Ashish Kashyap, founder of IndWealth and former head of Goibibo.
The company’s financial performance remains strong, with reported revenue of Rs 6,415 crore in FY25, marking an 18% year-on-year increase from Rs 5,427 crore in FY24. Lenskart also boasts a healthy cash reserve exceeding $200 million.
As Lenskart prepares for its public debut, investors and industry watchers will be keenly observing its progress in the coming months.
