Lenskart converts to public company as it gears up for IPO

Eyewear brand Lenskart has formally transitioned into a public company, marking a step towards its planned initial public offering, which could take place this financial year. The business’ name has been changed from Lenskart Solutions Private Limited to Lenskart Solutions Limited.

The reclassification, now filed with the Registrar of Companies, is a key procedural requirement ahead of listing on Indian stock exchanges, India Retailing reported. While Lenskart has yet to confirm the IPO’s size or timeline, reports suggest the company may target a listing in the 2026 financial year, seeking to raise between $750 million and $1 billion at a valuation of $7 billion to $8 billion.

Earlier this year, Kotak Mahindra Bank and Morgan Stanley were reportedly appointed as lead managers for the offering. Lenskart is also in discussions to secure a $1 billion pre-IPO round to bolster its financial position ahead of the listing.

Founded in 2010, Lenskart operates over 2,500 stores across India, the UAE, Singapore, and Japan, with a user base of more than 20 million. In the 2024 financial year, the company reported an 84% reduction in net loss to Rs 10 crore and a 43% year-on-year increase in operating revenue to Rs 5,427.7 crore.