Lenskart IPO: Shareholders approve Rs 2,150 crore initial public offering; DRHP filing likely soon, says report
initial public offering
plans at the company's annual general meeting held on Saturday. The omnichannel eyewear firm plans to raise Rs 2,150 crore ($250 million) as part of the public issue, which could reach up to $1 billion in total size, according to ET citing people familiar with the matter.
The company is expected to file its draft red herring prospectus (DRHP) with Sebi in the coming days, joining a growing list of new-age ventures—such as Meesho, Groww, Pine Labs, and PhysicsWallah—that are preparing to tap public markets in 2025. Collectively, over 14 such firms aim to raise more than Rs 20,000 crore this year, ET reported.
Filings showed that shareholders, including SoftBank, Kedaara Capital, Abu Dhabi Investment Authority, Fidelity, and Temasek, also approved the adoption of a new employee stock option plan—Esop 2025—comprising 7.2 million shares.
As per data from Tracxn, around 19% of Lenskart's shares are currently allocated to its Esop pool.
ET had reported on July 10 that the company plans to issue additional shares to founder and CEO Peyush Bansal via a structured payout, potentially increasing his holding by 1.5-2%. Bansal and his sister Neha Bansal, who is also a cofounder, together own 14-15% of the company.
Lenskart, which won the ET Startup Awards 2024 in the Startup of the Year category, operates in India and international markets such as the Middle East, Southeast Asia, Australia, Japan, and South Korea.
In FY24, the company's operating revenue rose 43% year-on-year to Rs 5,428 crore, while net loss narrowed to Rs 10 crore from Rs 64 crore in the previous fiscal.
In an October interview with ET, Peyush Bansal said Lenskart was investing $200 million in a new manufacturing plant in southern India. Currently, the company manufactures frames and lenses at its facility in Rajasthan.
Lenskart was valued at $5 billion in its last funding round in June 2024.
US-based Fidelity marked up the eyewear brand's valuation by more than 20% to $6.1 billion as of April-end.
The company's omnichannel strategy—blending online sales with over 2,500 retail outlets—has been a key growth driver. While online revenues have outpaced offline growth over the last 2–3 years, Lenskart continues to expand its store network aggressively.
Filings also revealed that PaySense cofounder Sayali Karanjkar and IndMoney founder Ashish Kashyap have joined the board as independent directors. Peyush Bansal has been appointed as chairman, managing director and CEO, while Neha Bansal and cofounder Amit Chaudhary have been named executive directors.
Stay informed with the latest
business
news, updates on
bank holidays
and
public holidays
.
AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
8 minutes ago
- Economic Times
Gemini Daily Horoscope Today, 4th August 2025: Focused energy brings productive results
Synopsis The Moon is in the Scorpio sign. It urges you to streamline your daily habits and routines. Venus and Jupiter are in your sign, Gemini. Your charm and optimism are high. Mercury will be retrograde in the Cancer sign. You need to be cautious with your decisions. ET Online It is a good day to tie up loose ends and revisit unfinished tasks. Your small improvements to the daily workflow. This can lead to long-term efficiency. You should avoid rushing. Precision matters more than speed financial reviews and expense tracking are favoured now. Be mindful of overspending, especially on luxury or beauty items. Your delayed payments may finally begin to move, though slowly. Your practical support means more than grand gestures. Show your care through action. Your just words, energy improves with structure. You shouldn't skip meals or sleep. Written by: Anand Sagar Pathak of For feedback, write to hello@ Also Read: Gemini Monthly Horoscope, August 2025 Gemini Weekly Horoscope (4th to 10th August, 2025) Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.
Time of India
22 minutes ago
- Time of India
High Court stays YEIDA order to cancel land allotted to company over Rs 118 crore dues
Noida: Allahabad high court's Lucknow bench has restrained the Yamuna Expressway Industrial Development Authority (YEIDA) from cancelling the land allotment of Greenbay Infrastructure for its 100-acre township project in Sector 22D. YEIDA has been restrained from cancellation until the company's two revision applications before the state govt — seeking relief under the "zero period" policy due to non-possession of 30–35% of the land — are disposed of. The zero period policy refers to a period during which developers are granted relief from interest and penalties on land dues for stalled projects. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida The court's interim order came on July 30, just a day before YEIDA's July 31 deadline for the builder to pay Rs 118 crore in pending dues or face cancellation of the land parcel. Justice Pankaj Bhatia, who heard the matter, directed that no coercive action be taken based on YEIDA's July 8 plot cancellation notice. Since the realtor filed a revision application before the state govt in Jan, the court observed that while the issue remains under review, YEIDA cannot cancel the land allotment. The court instructed the state govt to decide on the interim relief application within 10 days and complete proceedings on the revision application filed by Greenbay within four weeks. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo Greenbay said it has so far deposited Rs 60 crore out of the Rs 118 crore and has sought "zero period" relief from the date of allotment till now, citing incomplete land possession and stalled construction due to farmers' unwillingness to vacate around one-third of the land. The dispute stems from a prolonged standoff between the developer and YEIDA. The land was allotted to Greenbay in Feb 2011, with a lease deed executed in March 2012. In Jan 2014, Greenbay subleased a portion of the land to Emerald Properties for a group housing society. The company later launched the Golf Village township project, comprising 691 plots. However, the developer said it could not take possession of two-thirds of the land until 2019 and about one-third still remains outside its control. According to YEIDA officials, the latest ultimatum followed repeated defaults by the developer under the UP govt's "legacy stalled projects" policy introduced on Dec 21, 2023, which aims to revive long-pending housing projects and ensure timely possession for homebuyers. After the developer gave its consent, the dues were recalculated to Rs 441 crore, of which Greenbay was required to pay 25% (Rs 110 crore) by April 28, 2024. After it deposited the 25% amount, YEIDA in July 2024 issued a revised payment schedule for the remaining 75% dues. The Authority further revised this schedule a month later when the developer requested a recalculation of the amount with 10% simple interest and inclusion of Rs 2.4 crore in unpaid lease rent from 2021. Under the new payment schedule, the first instalment was due on Jan 15 and the last by July 15, 2026. Based on the initial amount paid, YEIDA allowed the developer to proceed with tripartite sublease registrations for proportionate land areas. In Oct 2024, Greenbay requested another extension for paying the remaining dues, citing continued difficulty in obtaining full physical possession of the plot. The company claimed that about 30% of the land remained under cultivation by farmers, preventing access. Taking this into account, YEIDA granted a three-month extension in Nov 2024, pushing the deadline from Jan 15 to April 15, 2025. However, Greenbay again failed to meet the extended deadline of April 15, 2025. Instead of clearing dues, it submitted a letter on April 15 seeking permission to sublease a 4,330-square metre commercial plot within the township and requested another revision of its payment schedule. During a board meeting on June 18, YEIDA issued a final deadline of June 30, asking Greenbay to deposit around Rs 118 crore or face cancellation of its township project in Sector later extended the deadline by one month, giving Greenbay until July 31 to clear the dues. In a letter dated July 8, the Authority made it clear this was the final ultimatum. The company said it has deposited Rs 60 crore and plans to pay the remaining amount, but it wants its grievances to be heard. Project director of the company Amit Kumar Sharma said, "To fulfil these financial transactions, we need immediate permission to proceed with the sublease of the commercial plot. This authorisation is critical for us to take the necessary steps towards fulfilling our payment obligations. Should we fail to adhere to the agreed timeline for payment, we accept that the sublease may be cancelled without any objection on our part. " Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
Time of India
37 minutes ago
- Time of India
BRS neglected irrigation sector during their 10-year regime: Bhatti
Hyderabad: Deputy chief minister Bhatti Vikramarka on Sunday said that Telangana's irrigation water needs are still being met by projects built by previous Congress govts on the Krishna and Godavari rivers. He added that the BRS did nothing for the development of the irrigation sector during their 10-year regime. "Not a single drop of irrigation water that rightfully belongs to Telangana will be given up. The state's interests are more important than politics. The previous BRS govt was responsible for allowing the Andhra Pradesh to take the Banakacherla project," he said after laying the foundation stone for the construction of 10,000-metric-tonne-capacity warehouses at Kamalapuram village in the Mudigonda mandal of the Khammam district. The warehouses are being built by the Telangana State Warehousing Corporation at a cost of ₹10 crore. He added: "It is because of chief minister A Revanth Reddy and irrigation minister N Uttam Kumar Reddy's effective presentation of arguments to the Union Jal Shakti Ministry in New Delhi that the Banakacherla project was halted." You Can Also Check: Hyderabad AQI | Weather in Hyderabad | Bank Holidays in Hyderabad | Public Holidays in Hyderabad The deputy chief minister also alleged that the previous BRS govt did not complete a single useful irrigation project. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Access all TV channels anywhere, anytime Techno Mag Learn More Undo "Though they spent Rs 1 lakh crore on the Kaleshwaram project, not a single acre received water from it. When Polavaram was being constructed, they just watched. When construction of the Banakacharla project began, they showed no concern. In fact, they rolled out the red carpet for AP leaders and mortgaged the interests of our state. Even when seven mandals of the Khammam district were merged into AP through an ordinance that was not included in the Reorganisation Act, they failed to stop it." Bhatti said, "We are correcting all the mistakes committed by the previous BRS govt. We are moving forward with a concrete action plan to make full use of the waters of the Krishna and Godavari rivers and ensure that Telangana's rightful share will not be taken by AP." Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
