India-based omnichannel eyewear company Lenskart, headquartered in Faridabad, Haryana, is preparing to go public with a $1 billion IPO and a valuation target of $10 billion. Unlike other Indian start-ups that opted for the confidential filing route, Lenskart plans to file its Draft Red Herring Prospectus (DRHP) publicly in the first fortnight of July 2025. Backed by strong financial metrics and a dominant market position, the company is working with major investment banks including Kotak, Axis Capital, Citi, Morgan Stanley, and Avendus.
India’s leading omnichannel eyewear brand Lenskart, founded by Peyush and Neha Bansal along with Amit Chaudhary, Ramneek Khurana, and Sumeet Kapahi, is set to file its Draft Red Herring Prospectus (DRHP) publicly by the first fortnight of July, skipping the confidential filing route allowed by the Securities and Exchange Board of India (SEBI).
Unlike tech peers such as Swiggy, Groww, Meesho, and PhysicsWallah, which have used the confidential route to protect sensitive business data and control IPO timing, Lenskart is opting for full transparency. The move signals the company’s confidence in its financial performance and market dominance. Lenskart’s closest listed competitor is Titan Eye Plus, which operates on a smaller scale.
Currently present in India, the UAE, Singapore, and Japan, Lenskart sells prescription eyewear, sunglasses, and accessories. With a massive customer base and celebrity status of co-founder Peyush Bansal from Shark Tank India, the company plans to raise over $1 billion in its initial public offering later this year.
In FY24, Lenskart posted revenues of ₹5,427 crore, though it reported a minor loss of ₹10 crore. The company has not yet filed its FY25 financials. Despite recent losses due to expansion efforts, the brand now eyes a valuation of $10 billion, up from its earlier target of $7-8 billion—double its last private market valuation.
The IPO will be managed by top financial institutions including Kotak, Axis Capital, Citi, Morgan Stanley, and Avendus.
Lenskart has previously raised over $1 billion from global investors including ADIA, ChrysCapital, SoftBank, and Alpha Wave. The decision to go public under normal procedures is expected to bolster investor trust and further highlight the company’s leading position in the eyewear market.
