India’s leading omnichannel eyewear brand, Lenskart, is taking decisive steps toward a highly anticipated public listing. The company has officially transitioned from a private limited company to a public entity, signaling that its Draft Red Herring Prospectus (DRHP) could be filed imminently.
From Private to Public: Strategic Corporate Move
In a key development, the board of Lenskart has approved a special resolution to rename the parent company from Lenskart Solutions Private Limited to Lenskart Solutions Limited, as reflected in recent corporate filings. This transition is a crucial regulatory step in preparation for launching an Initial Public Offering (IPO) on Indian bourses.
$1 Billion IPO in Sight
According to multiple media reports, Lenskart is targeting a $1 billion capital raise through a mix of primary and secondary share offerings, aiming for a $10 billion valuation. The public listing could potentially be one of the largest in the Indian consumer retail sector in recent years.
Momentum from Recent Fundraises
Lenskart’s journey toward the IPO has been bolstered by strong investor interest. In June 2024, the company raised $200 million in a secondary transaction. This was followed by an additional $20 million investment, which included participation from founder Peyush Bansal. Over the past 18 months, the company has attracted nearly $1 billion in funding. Notably, early investor Fidelity recently marked up Lenskart’s valuation to $5.6 billion, signaling growing confidence in its business fundamentals.
Strong Global Footprint and Financial Performance
With over 2,500 retail outlets globally—of which 2,000 are located in India Lenskart has established itself as a dominant player in both domestic and international markets. During FY24, the company generated 42% of its revenue from global markets, including Japan, Singapore, Taiwan, and Thailand.
Financially, Lenskart has demonstrated impressive growth and operational efficiency. In FY24, revenue from operations surged 43% to ₹5,427.7 crore, up from ₹3,788 crore in FY23. Most notably, the company reduced its net losses by 84%, narrowing them from ₹63 crore in FY23 to just ₹10 crore in FY24. Results for FY25 are yet to be reported, but market watchers expect continued momentum.
IPO Outlook: Riding on Fundamentals and Market Readiness
Lenskart’s IPO, when it hits the market, is expected to draw strong interest. The company’s robust omnichannel model, deep supply chain integration, and steadily improving financials provide a solid foundation for investor confidence. Its ability to control key aspects of manufacturing and distribution contributes to improved margins essential for sustaining high valuations.
As the firm inches closer to filing its DRHP, speculation is rife that Lenskart may go public around Diwali 2025, assuming stable market conditions. With rising revenues, narrowing losses, and a massive international footprint, the eyewear giant is well-positioned to make a mark on the public markets.
Whether Peyush Bansal and team will leave enough upside for public market investors remains to be seen. But if the momentum continues into the first half of FY26, Lenskart could be one of the most talked-about IPOs of the year.
