Omnichannel eyewear model Lenskart has secured shareholder approval to go public, setting the stage for one of many greatest preliminary public choices by an Indian consumer-tech firm, in accordance with filings with the Registrar of Firms.
The corporate plans to lift Rs 2,150 crore (about $250 million) by means of a contemporary difficulty of shares as a part of the IPO. The proposal was cleared at Lenskart’s annual normal assembly on July 26.
The full measurement of the providing is more likely to be round Rs 8,500 crore ($1 billion), together with a secondary sale by present buyers, making it one of many largest startup IPOs in India—alongside these of Zomato, Nykaa, and Paytm.
In preparation for the itemizing, Lenskart transformed right into a public restricted firm final month, altering its identify from Lenskart Options Non-public Restricted to Lenskart Options Restricted at a unprecedented normal assembly held on Might 30.
With a focused valuation of Rs 85,000 crore ($10 billion), the itemizing would mark a major second for India’s shopper web sector. The corporate joins a rising cohort of startups, together with Meesho, PhysicsWallah, Pine Labs, City Firm, Wakefit, Groww, and Shadowfax, that are additionally exploring public listings.
Lenskart has additionally launched a brand new inventory possibility plan, ESOP 2025, providing 72.8 lakh choices, or 0.43% of the corporate’s totally diluted fairness. Of those, 21.84 lakh choices have been earmarked for senior staff on the normal supervisor degree and above.
Disclosures from the AGM reveal that CEO, Chairman and Managing Director Peyush Bansal will obtain an annual mounted wage of Rs 6 crore. Co-founder Amit Chaudhary and Neha Bansal are every set to attract Rs 3 crore yearly.
To additional strengthen governance forward of the IPO, Lenskart’s board has appointed two impartial administrators: Sayali Karanjkar, co-founder of PaySense, and Ashish Kashyap, founding father of INDwealth and former Goibibo government.
Based in 2008, Lenskart has grown into one in all India’s main eyewear platforms by mixing offline retail, digital commerce, and proprietary manufacturing.
In June final yr, the eyewear firm had raised $200 million in secondary funding from Temasek and Constancy Administration and Analysis Firm. With this transaction, Lenskart had attracted near $1 billion capital in over 18 months.
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