As it gets ready for a much-awaited public listing, eyeglasses giant Lenskart has made a big step towards corporate formalization by announcing a structured pay plan for its top leadership. This development marks the company’s shift from startup mentality to boardroom discipline, as shareholder approval has been obtained.
Founders’ Compensation Formalised
A total fixed yearly compensation of Rs 12 crore for Lenskart’s co-founders, commencing April 1, 2025, was accepted by the company’s shareholders at its Annual General Meeting (AGM) on July 26. According to documents obtained through TheKredible, co-founder and full-time director Neha Bansal and Amit Chaudhary would each receive Rs 3 crore, while CEO and founder Peyush Bansal will receive Rs 6 crore.
As the company gets closer to its initial public offering (IPO), Lenskart has taken a step toward more regulatory compliance by formalizing the founders’ pay through a board resolution for the first time. The structured compensation shows a move toward greater transparency and accountability, even though specifics of prior years’ pay were not made public.
Leadership Terms Reconfirmed
Alongside the salary structure, shareholders reconfirmed the appointments of the three founders in leadership roles for the next five years. Peyush Bansal will continue as Managing Director and CEO without being subject to retirement by rotation, while Neha Bansal and Amit Chaudhary will retain their positions as whole-time directors.
In addition to fixed salaries, the founders are also eligible for performance-based bonuses, stock options, and perquisites, though the exact nature and amounts of variable compensation were not disclosed in the filings.
ESOP 2025: A Talent Retention Play
In another strategic move, Lenskart has rolled out a fresh Employee Stock Option Plan (ESOP 2025) as part of its IPO preparedness. The plan, which spans the holding company and its subsidiaries, is aimed at incentivising and retaining top talent.
Under this scheme, the company has allocated 72.8 lakh stock options, representing 0.43% of its fully diluted equity. Of these, 21.84 lakh options are reserved for senior leadership — at the general manager level and above — while the rest will be distributed among eligible employees across departments and geographies, including its international arms.
The options will be granted at fair market value and will vest based on a combination of performance and time-based criteria, aligning employee incentives with long-term shareholder value creation.
Countdown to IPO Begins
The compensation overhaul and new ESOP rollout come shortly after Lenskart received shareholder approval to raise Rs 2,150 crore (around $250 million) via a fresh issue of shares. The overall IPO is expected to be around $1 billion, with a secondary component included for existing investors looking to pare their stakes.
The company is reportedly preparing to file its draft red herring prospectus (DRHP) soon, as per Moneycontrol. If the IPO goes through at a targeted valuation of $10 billion (Rs 85,000 crore), it would be among the largest startup listings in India, joining the league of Zomato, Paytm, and Nykaa.
From Startup to Scale-Up
Founded in 2008, Lenskart today operates over 2,000 retail stores across India and has established a strong online presence. Its hybrid retail model, combining e-commerce with tech-driven offline experiences, has helped it become a household name in Indian eyewear.
The company is backed by marquee investors including SoftBank, Temasek, ADIA, Alpha Wave Global, TPG, KKR, and Kedaara Capital. Lenskart’s upcoming IPO will test the public market’s appetite for profitable, consumer-facing tech ventures at scale.
Credits: Lenskart
A Broader Trend
Lenskart is not by itself. It joins an increasing number of Indian firms that have filed for or are getting ready for initial public offerings (IPOs) this year, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax. This indicates a strong recovery in the Indian IT IPO pipeline.
All things considered, Lenskart’s most recent actions, which include formalizing leadership compensation, introducing a new ESOP, and initiating the IPO process, mark a substantial advancement in the company’s transformation into a professionally run, publicly-ready consumer technology behemoth. The brand is obviously stepping up its efforts in terms of structure, transparency, and personnel retention as it looks to the capital markets.
