Lenskart is officially a public company. On May 30, the board approved a name change from Lenskart Solutions Private Limited to Lenskart Solutions Limited—a necessary step as the company gears up for a massive $1-billion IPO.
For the average customer, this might just sound like paperwork. But behind the scenes, it signals something bigger: India’s biggest eyewear brand is ready to play in the big leagues.
From Startup to Stock Market Star?
Founded in 2008, Lenskart began as a scrappy startup selling glasses online. Fast forward to today—it runs over 2,000 stores and serves millions across India and abroad.
Backed by heavyweights like SoftBank, Temasek, ADIA, and KKR, Lenskart became a unicorn in 2019 and was last valued at $5 billion in June 2024 after a $200 million fundraise from Temasek and Fidelity.
Now, it’s looking to go even bigger. According to Moneycontrol, the company is working with top banks like Morgan Stanley, Citi, Axis Capital, and Kotak Mahindra to take the IPO to the finish line.
What’s in it for you?
A public listing could mean more stores, faster service, better deals—and a stronger brand you can trust. But there’s also a market message here: if Lenskart pulls this off, it could open the IPO floodgates for India’s other “almost-profitable” consumer tech brands waiting on the sidelines.
Let’s be real—after years of seeing tech IPOs flop harder than knock-off Ray-Bans, this one has to go right.
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The Numbers Game
Despite the excitement, Lenskart did post a net loss of ₹10 crore in FY24 on revenue of ₹5,427 crore. So yes, it’s not all clear vision just yet. But it’s worth noting the company had been profitable earlier—and many in the market still see it as a long-term bet.
The planned IPO could be one of India’s biggest in the consumer tech space. And if it lands well, Lenskart won’t just be making glasses—it’ll be making history.
What’s Next?
The company hasn’t announced the IPO date yet. But preparations are on, including a big bet on manufacturing. In December, Lenskart signed a deal with the Telangana government to build a ₹1,500 crore factory in Fab City. That project alone could create over 2,100 jobs.
And just like that, a startup that once shipped glasses from a garage is now building factories and prepping for billion-dollar market debuts.
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