By Abhay Ray 
Introduction
Lenskart, the brand that revolutionized the Eyewear Industry in India, is gearing up for a significant milestone – its Initial Public Offering (IPO). Lenskart is preparing for an IPO, expected to value the company at $10 billion (₹86,780 crore). The company intends to file its Draft Red Herring Prospectus (DRHP) by May 2025, with the goal of listing on Indian stock exchanges before the end of the year. With its aggressive growth strategy and global aspirations, the IPO promises to be one of the most eagerly anticipated events in the Indian Startup Ecosystem.
About the Company
Lenskart is an Indian multinational eyewear company, based in Gurugram. As a vertically integrated company, it designs, manufactures, distributes, and retails prescription and regular eyewear. It sells its products through website, mobile app and 2,000+ physical stores. Founded in 2010, By an ex-Microsoft ‘techie’ with no money but truckloads of relentless passion to make a difference in this world, Lenskart is one of the fastest growing eyewear business today.
Peyush Bansal, along with his two co-founders Amit Chaudhary and Sumeet Kapahi founded ‘VALYOO technologies’. The aim was to truly add ‘valyoo’ in customers’ lives by eliminating the retailers, setting up our own high quality manufacturing and supplying directly to the consumer. With this, they not only cuts costs, but also delivered high quality standards, supported with in house robotic lens manufacturing and assembly ensuring 100% precision and top quality control. With a rapidly growing business reaching out to over 1,00,000 customers a month via a unique combination of a strong online business and uniquely designed physical stores, Lenskart is revolutionizing the eyewear industry.
Lenskart’s Rise : A Look at the Founders and Key Milestones
Peyush Bansal, along with Amit Chaudhary and Sumeet Kapahi, founded Lenskart.com in 2010. Peyush Bansal is an Indian entrepreneur, business executive and angel investor. He is the CEO of Lenskart, an Indian multinational eyewear retail chain. He is also a “shark” at the show Shark Tank India.
Initially, the company expanded into selling wristwatches, bags, and jewelry through Watchkart.com, Bagskart.com, and Jewelskart.com, but by 2014, it refocused solely on eyewear. In 2017, Lenskart launched the eyewear brand John Jacobs and signed Katrina Kaif as its first brand ambassador. The company became profitable in 2018. In 2019, it hired Bhuvan Bam as its first male brand ambassador. In 2022, Lenskart acquired a majority stake in Japanese brand Owndays in a deal valued at $400 million.
IPO – Market Sentiment and Competitive Landscape
Lenskart’s IPO ambitions align with a broader trend of late-stage startups heading for public listings in FY26, indicating a growing acceptance of new-age companies among institutional and retail investors.The eyewear retailer, backed by prominent investors such as SoftBank and Temasek, dominates the Indian market and is expanding internationally. Its acquisition of Japanese brand Owndays in 2022, in a $400 million deal, marked its foray into premium eyewear. Thailand is also emerging as a key growth region for the brand.
Lenskart – Growth and Revenue
A key factor likely to drive the success of Lenskart’s IPO is its impressive financial performance. The company has been focused on achieving profitability, and the results reflect that effort. Lenskart’s net loss, which was 2,640 million in FY23, has been reduced to 2,100 million in FY24. Equally noteworthy is the 43% year-on-year growth in operating income, which increased from 2,542.8 million in FY23 to the same amount in FY24, demonstrating the company’s ability to scale its business effectively.
Additionally, Lenskart’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) more than doubled, rising from 2,403 million in FY23 to 2,856 million in FY24. These figures highlight the company’s strong financial position, indicating that Lenskart is entering its IPO with a much healthier balance sheet. This positive financial momentum is crucial for gaining investor trust and demonstrating Lenskart’s long-term potential as a profitable and sustainable business. As the company prepares for its public offering, investor interest is high, and the anticipation is building.
Plans from IPO
Lenskart intends to use the funds raised from the IPO to invest in technology, manufacturing, and product innovation and expand its international footprint. The company is increasing its focus on local manufacturing, including a $200 million (₹1,735 crore) investment in a new facility in Telangana. Lenskart is focusing on technology to improve customer experience and operational efficiency.With its IPO plans well underway, Lenskart’s journey is far from over. The company is determined to capitalize on its success in india and further expand its international footprint. As global expansion becomes a comerstone of its business strategy, Lenskort’s entry into new markets will play a pivotal role in shaping its future growth.
As the eyewear market becomes increasingly competitive, Lenskart’s ability to leverage its strong financial performance and global partnerships will be crucial in maintaining its position at the top of the industry. As the Indian startup ecosystem continues to grow, Lenskart’s IPO is poised to set a precedent for other indian companies looking to go public, it’s a story of resilience, vision and ambition-a story that proves that the sky is the limit when you have the right strategy, the right team, and a laser sharp focus on execution.
Conclusion
Lenskart’s forthcoming IPO represents more than just a company going public-it symbolizes the maturing of the Indian startup ecosystem. For years, Indian startups have been building innovative products and scaling rapidly. Now, with a growing number of companies poised for IPOs, the Indian stock market is beginning to embrace the next generation of business leaders Lenskart’s story is one of aspiration, growth, and success. As it moves toward its public debut it offers a glimpse into the future of Indian startups and what’s possible when visionary entrepreneurs focus on solving real-world problems. The IPO may be just the beginning for Lenskart, but it’s already clear that the company is destined for even greater heights.
GMICapitals.com RaysVeda.com GetMyStartup.com LawCanal.com GetMyIndia.com ZinCob.com Angeltors.com