Lenskart turns into a public company in move towards public listing to raise up to $1 billion

New Delhi: Eyewear brand Lenskart has officially transitioned to a public company, signaling its upcoming move towards a public listing. The change comes after shareholders approved a special resolution, altering the company’s registered name from Lenskart Solutions Private Limited to Lenskart Solutions Limited.

This strategic shift marks a significant step as Lenskart prepares to launch an initial public offering (IPO), with plans to raise up to $1 billion. The company’s valuation could soar to $10 billion, which is double the amount it reached during its previous funding round. The rebranding is an essential requirement before the company can file its IPO documentation.

The Gurugram-based eyewear brand had previously raised $200 million in a secondary round in June 2024, achieving a valuation of $5 billion. Key investors in that round included Singapore’s sovereign wealth fund Temasek and US financial services giant Fidelity. Lenskart’s founders—Peyush Bansal, Neha Bansal, Amit Choudhary, and Sumeet Kapahi—had also committed nearly $20 million to the company in July 2024.

While earlier reports indicated that Lenskart intended to file its draft IPO papers by May 2024, the company has yet to submit the required documentation, though the timing will be determined by market conditions.

Lenskart has achieved an annual revenue run rate of $1 billion (Rs 8,400 crore).

With a production capacity of 25 million frames and 30–40 million lenses each year, Lenskart operates more than 2,500 stores across India and Southeast Asia, in addition to maintaining a strong online presence.