Lenskart becomes a public entity ahead of its IPO

Omnichannel eyewear giant Lenskart has officially transitioned into a public limited company, following a special board resolution passed on May 30, according to media reports. The Gurugram-based company is now renamed as Lenskart Solutions Limited, from its initial name—Lenskart Solutions Private Limited. 

This comes at a time when the Peyush Bansal co-founded unicorn prepares for an IPO (initial public offering) at a $10 billion valuation. The transition to a public limited company was necessary before filing the IPO. Media reports also showed that Lenskart had said in its filing that the name conversation will enable the unicorn to undertake its IPO on one or more stock exchanges. 

In February 2025, media reports said that Lenskart was planning on filing IPO draft papers in May, contingent on market conditions. However, the company is yet to file its draft papers. 

Founded by Bansal, Amit Chaudhury, and Sumeet Kapahi, Lenskart sells prescription glasses, sunglasses and other eyewear accessories across India, the UAE, Singapore and Japan. It has been bullish on its global expansion to scale in Singapore, Dubai, US and Southeast Asia. 

In June last year, the eyewear company had raised $200 million in secondary investment from Temasek and Fidelity Management and Research Company. With this transaction, Lenskart had attracted close to $1 billion capital in over 18 months. 

Later in November last year, Fidelity Management had marked up the value of its stake by 12%, taking the valuation of the company to $5.6 billion. At the same time, YourStory had reported that the unicorn reduced its losses by 84% in FY2024 to Rs 10.15 crore (against Rs 63.7 crore in FY2023).