Lenskart IPO Gets Shareholder Nod: DRHP Filing Soon! Rs 2,150 Crore Fresh Issue in Rs 8,500 Crore Public Offer

Lenskart, India’s leading omnichannel eyewear brand, has taken a significant step toward its much-anticipated stock market debut. The company has received shareholder approval to launch an initial public offering (IPO), paving the way for one of the biggest public listings by an Indian consumer-tech firm to date.

According to regulatory filings submitted to the Registrar of Companies (RoC), the proposal was approved during the company’s annual general meeting (AGM) held on July 26, 2025.

Lenskart IPO: Rs 2,150 Crore Fresh Issue; Total IPO Size Around Rs 8,500 Crore

As part of the IPO, Lenskart plans to raise Rs 2,150 crore (approximately $250 million) through a fresh issue of equity shares. Additionally, the offer will include a secondary share sale by existing investors, bringing the total IPO size to nearly $1 billion (Rs 8,500 crore). The startup is expected to file its draft red herring prospectus (DRHP) with SEBI in the coming days, according to sources familiar with the matter.

The company had earlier restructured to become a public limited company. On May 30, 2025, it formally changed its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, following a special resolution passed during an Extraordinary General Meeting (EGM).

Among the Largest IPOs by an Indian Startup

If Lenskart’s IPO is launched at its targeted valuation of $10 billion (Rs 85,000 crore), it will rank among the largest IPOs ever by an Indian startup, alongside names like Zomato, Paytm, and Nykaa. This move also places Lenskart in the elite club of Indian startups preparing to go public, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax.

Backed by Marquee Global Investors

Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has evolved into India’s largest omnichannel eyewear brand, boasting over 2,000 physical stores alongside a strong e-commerce presence.

The company is backed by an impressive list of global investors, including SoftBank, Temasek, Abu Dhabi Investment Authority (ADIA), Alpha Wave Global, KKR, Kedaara Capital, and TPG. Notably, in June 2024, Lenskart secured $200 million in funding from Temasek and Fidelity at a $5 billion valuation. Fidelity subsequently increased Lenskart’s valuation to $6.1 billion in its latest portfolio update as of April 30, 2025.

Lenskart Financial Snapshot: Revenue Growth, Profitability Pressure

While Lenskart has shown strong revenue traction, the company reported a net loss of Rs 10 crore in FY2024, despite generating operating revenue of Rs 5,427 crore, according to its latest financial disclosures. This marks a shift from previous years where the company had reported profits, suggesting rising investment in infrastructure, expansion and marketing ahead of its IPO.