Lenskart appoints Ashish Kashyap, Sayali Karanjkar to board; SoftBank’s Sumer Juneja exits
Peyush Bansal-led Lenskart has added Ashish Kashyap and Sayali Karanjkar as directors, expanding the governance bench as it gears for an Rs 8,500 crore IPO.
Eyewear retailer Lenskart has appointed INDmoney founder Ashish Kashyap and PaySense co-founder Sayali Karanjkar as independent directors to its board, according to regulatory filings. The appointments were made last week.
The move follows the exit of Sumer Juneja, managing partner at SoftBank Investment Advisers, who stepped down from the board on June 17, 2025. SoftBank has typically exited board positions at its portfolio companies, preparing to go public or shortly after listing, including Swiggy, Meesho, PB Fintech, and Paytm
Appointment of independent directors is primarily aimed at strengthening a company's corporate governance norms and bring in experienced external oversight. Lenskart's Board also includes Jayesh Tulsidas Merchant, former chief financial officer (CFO) of Asian Paints, and Bijou Kurien, former chief operating officer (COO) of Titan as Independent Directors.
The board changes come as Lenskart secured shareholder approval to go public, 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. The total IPO size is expected to be around Rs 8,500 crore ($1 billion), including a secondary sale by existing investors. The proposal was approved at Lenskart’s annual general meeting on July 26.
In preparation for the listing, the NCR-based company converted to a public limited entity last month, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited following 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. Lenskart joins a cohort of startups, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax, which are also preparing for public market debuts.