IPO-bound Lenskart's founders to together draw Rs 12 crore in annual salaries

Lenskart founders together draw Rs 12 crore in annual salaries ahead of IPO

As Lenskart readies for public listing, the eyewear company has formalised compensation for its top management, with shareholders approving Rs 12 crore in total as annual fixed salaries for its co-founders.

The move reflects the company’s transition to a more structured governance and compliance framework ahead of the initial public offering (IPO), expected to be one of the largest in India’s consumer-tech sector.

Founder and CEO Peyush Bansal will draw Rs 6 crore annually, while co-founders Neha Bansal and Amit Chaudhary will each receive Rs 3 crore, filings made with the Registrar of Companies (RoC), sourced via TheKredible, show.

The salaries were approved at the company’s annual general meeting (AGM) on July 26, effective April 1, 2025. Salary details for previous years could not be ascertained from the available filings and this appears to be the first time that the compensation for the founders has been formalised through a board resolution.

The AGM also reconfirmed Peyush Bansal’s appointment as managing director and chief executive officer (CEO) for a five-year term, during which he will not be subject to retirement by rotation.

Neha Bansal and Amit Chaudhary, too, were reappointed as whole-time directors for the same duration.

The founders are also eligible for performance bonuses, stock options and other perquisites as may be determined by the board, though no variable pay amounts were disclosed in the filings.

ESOP 2025

Lenskart has also unveiled a new employee stock option plan — ESOP 2025 — as part of its efforts to retain and incentivise talent ahead of the IPO. The scheme covers both the holding company and its subsidiaries, filings showed.

The company has set aside 72.8 lakh stock options, which account for 0.43 percent of its fully diluted equity capital. Of this, 21.84 lakh options have been earmarked for senior employees at the general manager level and above, as it seeks to reward those in leadership position. The remaining options will be allocated to other eligible employees across different levels, including international entities within the group.

The ESOPs will be granted at fair market value and will vest based on performance and time-based criteria set out by the company.

The plan is seen as a key part of Lenskart’s efforts to align long-term employee incentives with shareholder value creation, especially as it enters the public markets.

Also read: Lenskart converts to public entity ahead of potential $1-billion IPO

IPO plan

This comes after the firm secured shareholder approval to raise Rs 2,150 crore (around $250 million) through a fresh issue of shares. The total IPO size is expected to be around $1 billion, including a secondary component by existing investors. The draft red herring prospectus (DRHP) is expected to be filed soon, as Moneycontrol has reported.

Founded in 2008, Lenskart operates more than 2,000 stores in India and has a growing online business. It is backed by investors including SoftBank, Temasek, ADIA, Alpha Wave Global, TPG, KKR, and Kedaara Capital.

The eyewear retailer has joined a growing list of startups, including Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax, to have filed IPO papers this year.

If the IPO goes through at the targeted valuation of $10 billion (Rs 85,000 crore), it would place Lenskart among the largest startup listings in India alongside the likes of Zomato, Paytm and Nykaa.