Lenskart wins shareholder nod for IPO; aims ₹8,500 Cr market debut

Omnichannel eyewear brand Lenskart has secured shareholder approval to go public, setting the stage for one of the biggest initial public offerings by an Indian consumer-tech company, according to filings with the Registrar of Companies.

The company plans to raise Rs 2,150 crore (about $250 million) through a fresh issue of shares as part of the IPO. The proposal was cleared at Lenskart's annual general meeting on July 26.

The total size of the offering is likely to be around Rs 8,500 crore ($1 billion), including a secondary sale by existing investors, making it one of the largest startup IPOs in India-alongside those of Zomato, Nykaa, and Paytm.

In preparation for the listing, Lenskart converted into a public limited company last month, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited at an extraordinary general meeting held on May 30.

With a targeted valuation of Rs 85,000 crore ($10 billion), the listing would mark a significant moment for India's consumer internet sector. The company joins a rising cohort of startups, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax, which are also exploring public listings.

Lenskart has also introduced a new stock option plan, ESOP 2025, offering 72.8 lakh options, or 0.43% of the company's fully diluted equity. Of these, 21.84 lakh options have been earmarked for senior employees at the general manager level and above.