Lenskart becomes public ahead of $10b IPO plan

Lenskart, the Gurugram-based eyewear company, has transitioned to a public limited company effective May 30, 2025.

The company was renamed from Lenskart Solutions Private Limited to Lenskart Solutions Limited following a board resolution.

This move is a preparatory step for its initial public offering (IPO), expected at a reported valuation of US$10 billion.

While reports in February suggested a draft IPO filing in May, it has not yet been filed.

Founded by Peyush Bansal, Amit Chaudhury, and Sumeet Kapahi, Lenskart operates in India, the UAE, Singapore, and Japan. It is expanding into the US, Dubai, and Southeast Asia.

In June 2024, the company raised US$200 million in secondary investment from Temasek and Fidelity Management.

🔗 Source: YourStory

🧠 Food for thought

1️⃣ Lenskart taps into a rapidly expanding global eyewear market

Lenskart’s IPO preparations come at a time when the global eyewear market is projected to grow substantially, from $161.94 billion in 2024 to $288.83 billion by 2033, representing a CAGR of 6.64% 1.

This growth is driven by increasing visual impairments from extended screen time, aging populations, and the evolution of eyewear into fashion accessories rather than purely functional items 2.

The company’s omnichannel approach, combining online sales with physical stores in smaller towns and cities, positions it well to capitalize on changing consumer behaviors, including the shift toward e-commerce in eyewear purchases 3.

Lenskart’s decision to manufacture its own eyewear brands, as mentioned by founder Peyush Bansal in 2019, gives it a distinctive edge in controlling quality and margins compared to pure retailers 4.

The eyewear industry is also witnessing technological innovations such as virtual try-ons, smart glasses, and blue light filtering lenses, creating new market opportunities for established players 2.

2️⃣ India emerges as a global IPO powerhouse, creating a favorable environment

Lenskart’s IPO plans coincide with India’s rise as the busiest IPO market globally in 2024, with 338 deals representing a 44% increase from the previous year 5.