Lenskart IPO: Shareholders Approve Major Public Offering
India’s premier eyewear unicorn, Lenskart, has received shareholder approval to raise ₹2150 crore (approximately $250 million) through an initial public offering (IPO). This development marks a pivotal moment in India’s consumer tech landscape, positioning Lenskart as one of the few homegrown direct-to-consumer (D2C) startups making the transition to the public markets.
Background: From Startup to Market Leader
Founded in 2010 by Peyush Bansal, Lenskart has revolutionized how Indians buy eyewear. Through a combination of an online-first strategy and exclusive retail experiences, the company has captured a significant share of India’s eyewear market, estimated to be worth over $5 billion.
The brand’s tech integration, such as 3D try-ons and AI-powered vision tests, has also positioned it as a tech-enabled D2C leader. With over 2,000 offline stores across India and Southeast Asia, and a global presence with stores in Singapore, Dubai, and the Middle East, Lenskart has grown into a true omni-channel player.
What Happened: Shareholder Approval and IPO Structure
On July 22, 2025, Lenskart’s board disclosed that shareholders had approved a public issue of equity shares, paving the way for the startup’s IPO filing with the Securities and Exchange Board of India (SEBI). The offering will comprise both a fresh issue and an offer for sale (OFS) by existing investors, which include SoftBank Vision Fund, Kedaara Capital, Premji Invest, and Alpha Wave Global.
Financials and Valuation
Lenskart is reportedly seeking a valuation of over $5 billion post-listing. The capital raised will be used for international expansion, product R&D, customer acquisition, and technology infrastructure. The company is already profitable in several international markets, according to its last quarterly update.
Industry Reactions
Market analysts see this IPO as a bellwether for the Indian startup ecosystem:
“Lenskart’s IPO could reignite investor interest in India’s consumer tech sector, which has seen limited exits in the public markets,” said Rahul Jain, Partner at Qapita Capital.
Other founders also hailed the move as a sign of maturity in India’s D2C ecosystem:
“This shows that tech-driven retail can scale profitably and go public,” tweeted Nykaa founder Falguni Nayar.
Challenges Ahead
Despite its scale, Lenskart operates in a capital-intensive, margin-sensitive sector. Eyewear, though essential, isn’t typically a frequent-purchase category. Lenskart will need to demonstrate sustained growth and margin improvements to justify a public market valuation.
Strategic Outlook
Post-IPO, Lenskart plans to deepen its footprint in the Middle East and Southeast Asia, potentially eyeing acquisitions in untapped regional markets. There are also plans to expand its Bluestone-style luxury eyewear line and introduce AI-driven eye care diagnostics.
The listing is expected in early 2026, pending SEBI approval. If successful, Lenskart will be among the few D2C tech brands from India to list after Zomato, Nykaa, and Mamaearth.
