Lenskart secures shareholders nod for Rs 2,150 Cr IPO; reveals new ESOP plan and co-founders pay

Eyewear retailer Lenskart has secured shareholder approval to raise Rs 2,150 crore through a fresh issue as part of its upcoming initial public offering (IPO), according to a resolution passed at its 17th Annual General Meeting (AGM) on July 26, 2025. 

The company will also enable an offer-for-sale (OFS) by existing investors, though the OFS size was not specified in the filing. The development comes a month after Lenskart converted into a public company, a move first reported exclusively by Entrackr.

Media reports suggest that Lenskart has plans to raise $1 billion in total via IPO at a targeted valuation of $10 billion. It is expected to be one of the most highly valued companies to go public from the Indian startup ecosystem. The Gurugram-based company was valued at $5 billion during a $200 million secondary deal in June last year. Recently, Lenskart’s early backer Fidelity revised the valuation of the Peyush Bansal-led company to $6.1 billion.

According to the filings, Lenskart has unveiled a new stock option scheme ESOP 2025, comprising 72.8 lakh options for its eligible employees of holding and subsidiaries, which translates to 0.43% of the fully diluted equity capital. Out of this, 21.84 lakh options have been reserved for key employees (General Manager level and above).

The AGM filing also disclosed remuneration of key leadership. Chairman, Managing Director and CEO Peyush Bansal will receive a fixed annual salary of Rs 6 crore, while Neha Bansal and co-founder Amit Chaudhary will each draw Rs 3 crore per annum.

Moreover, the company’s board has appointed Sayali Karanjkar (co-founder, PaySense) and Ashish Kashyap (founder, IndWealth and ex-Goibibo) as independent directors, strengthening board oversight in line with public company norms.

According to a Moneycontrol report, Lenskart recorded a revenue of Rs 6,415 crore in FY25, an 18% year-on-year increase when compared to Rs 5,427 crore in FY24. According to the report, the SoftBank-backed firm also had cash reserves exceeding $200 million.