Omnichannel eyewear large Lenskart has formally transitioned right into a public restricted firm, following a particular board decision handed on Might 30, in accordance with media studies. The Gurugram-based firm is now renamed as Lenskart Options Restricted, from its preliminary identify—Lenskart Options Non-public Restricted.
This comes at a time when the Peyush Bansal co-founded unicorn prepares for an IPO (preliminary public providing) at a $10 billion valuation. The transition to a public restricted firm was crucial earlier than submitting the IPO. Media studies additionally confirmed that Lenskart had stated in its submitting that the identify dialog will allow the unicorn to undertake its IPO on a number of inventory exchanges.
In February 2025, media studies stated that Lenskart was planning on submitting IPO draft papers in Might, contingent on market situations. Nevertheless, the corporate is but to file its draft papers.
Based by Bansal, Amit Chaudhury, and Sumeet Kapahi, Lenskart sells prescription glasses, sun shades and different eyewear equipment throughout India, the UAE, Singapore and Japan. It has been bullish on its world enlargement to scale in Singapore, Dubai, US and Southeast Asia.
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.
Later in November final yr, Constancy Administration had marked up the worth of its stake by 12%, taking the valuation of the corporate to $5.6 billion. On the similar time, YourStory had reported that the unicorn decreased its losses by 84% in FY2024 to Rs 10.15 crore (towards Rs 63.7 crore in FY2023).
Edited by Jyoti Narayan
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