Lenskart Eyes $10 Billion Valuation, Reaches Record Revenue

Strategic Insights -

Lenskart, the India-based eyewear retail giant, has set its sights on a valuation of $10 billion (Rs 85,000 crore) following a significant investment round led by Temasek and Fidelity Management in June 2024. As part of its preparations for an initial public offering (IPO), the company has received shareholder approval to raise Rs 2,150 crore through a fresh issue of shares. Founded in 2008 by Peyush Bansal, Amit Chaudhary, Neha Bansal, and Sumeet Kapahi, Lenskart has expanded its operations to over 2,500 physical stores and a robust digital presence.

Key Takeaways:

  • Lenskart aims to nearly double its valuation from $5 billion to $10 billion (Rs 85,000 crore), making it one of the most valuable startups in the country.
  • The company received shareholder approval to raise Rs 2,150 crore through a fresh issue of shares as part of its upcoming IPO.
  • Lenskart has reported a robust 43% year-on-year revenue growth in FY24, reaching Rs 5,427 crore, with EBITDA doubling to Rs 856 crore.
  • In FY25, Lenskart is projected to achieve revenues of Rs 6,415 crore ($755 million), split across domestic and international markets.
  • The company has introduced a new stock option plan (ESOP 2025), offering 72.8 lakh options (0.43% of fully diluted equity) to senior employees.
  • Executive remuneration: CEO Peyush Bansal will draw an annual salary of Rs 6 crore, while co-founders Amit Chaudhary and Neha Bansal will each receive Rs 3 crore.
  • Lenskart has appointed two independent directors, Sayali Karanjkar and Ashish Kashyap, strengthening its governance.
  • Five investment banks (Kotak Mahindra Capital, Axis Capital, Citi, Morgan Stanley, and Avendus Capital) have been engaged to advise on the IPO.

Statistics:

  • Lenskart's FY24 revenue growth: 43%
  • FY24 revenue: Rs 5,427 crore
  • FY24 EBITDA: Rs 856 crore
  • Projected FY25 revenue: Rs 6,415 crore
  • Number of options offered under ESOP 2025: 72.8 lakh
  • Percentage of fully diluted equity covered under ESOP 2025: 0.43%
  • CEO Peyush Bansal's annual salary: Rs 6 crore
  • Co-founder Amit Chaudhary's annual salary: Rs 3 crore
  • Co-founder Neha Bansal's annual salary: Rs 3 crore

Sources:

  • News reports
  • Lenskart's 17th Annual General Meeting (July 26, 2025)
  • Lenskart's Draft Red Herring Prospectus (DRHP) (expected to be filed with SEBI in the coming days)
  • Contify.com