With its initial public offering (IPO) opening for subscriptions on October 31 and closing on November 4, eyewear retailer Lenskart is poised to make its eagerly anticipated market debut. In order to raise new funds and give early investors a sizable exit opportunity, the business has set the price range at INR 382–402 per equity share of face value INR 2. Supported by billionaire Radhakishan Damani, Lenskart’s initial public offering (IPO) is one of the year’s most anticipated in India’s rapidly expanding consumer technology sector.
October 30th is the planned date for the anchor investor allocation. Bids must be made in multiples of the lot size, which has been fixed at 37 equity shares. With a fresh issuance of INR 2,150 crore and an offer for sale (OFS) of up to 12.75 crore shares by promoters and current investors, the overall issue size is projected to be around INR 7,278 crore, or roughly INR 5,128 crore at the top end of the price range.
How Lenskart Plans to Utilise Proceeds?
Promoters and early investors will sell 12.75 crore shares through an offer for sale (OFS), while the business intends to raise INR 2,150 crore through a new share issuance. The new issue’s proceeds will be utilised to improve brand and marketing campaigns, fortify technology infrastructure, and open more company-owned stores.
Investor confidence in Lenskart’s development potential is demonstrated by the IPO, which comes after a pre-IPO investment of INR 90 crore from DMart founder Radhakishan Damani. Alpha Wave Ventures, Temasek, Kedaara Capital, and SoftBank are among the current investors in the eyewear company. After Tata Capital, HDB Financial Services, and LG Electronics, Lenskart’s IPO is expected to rank as the fourth-largest public offering of 2025 with this offering.
Lenskart’s Dominance in India’s Eyeware Sector
Peyush Bansal founded Lenskart in 2008 as an online platform for eyewear. Since then, it has grown into an omnichannel retailer with more than 2,500 locations in Southeast Asia, the Middle East, and India. It has been able to scale quickly while maintaining affordability and high margins thanks to its vertically integrated business model, which spans design, manufacture, and retail.
With revenue of INR 6,625 crore, up 22% year over year, Lenskart declared a net profit of INR 297 crore in FY25, a significant turnaround from a loss of INR 10 crore in FY24. Stronger brand engagement, more cost-effectiveness, and benefits from its technology-led model were cited by the corporation as the reasons for its better success.
Quick Shots
•Lenskart’s IPO opens on October 31 and closes on
November 4, 2025.
•Anchor investor allocation is scheduled for October
30.
•Fixed at INR 382–INR 402 per equity share of face
value INR 2.
•Investors can bid in multiples of 37 equity shares.
Piyush Goyal, the Union Minister for Commerce and Industry, established a special “Startup India Desk” on April 5 that serves as a helpline for nascent Indian business owners. The statement was made by Piyush Goyal during his remarks at the Startup Mahakumbh 2025. The helpline will be established by the Department for Promotion of Industry and Internal Trade (DPIIT), according to the official statement. According to the announcement, the four-digit toll-free helpline will also be available in a number of regional languages. On social media site X (previously Twitter), Piyush Goyal shared a video of his remarks at the Startup Mahakumbh, claiming it was a “new helpline to assist startups”.
Giving More Power to Country’s Startup Sector
The minister is heard in the video urging startup creatorsand stating that he will open a desk at “Start-up India” in his ministry that will serve as a hotline for any entrepreneur from across the nation. He went on to say that all they have to do is phone the helpline if an official is bothering them, if they have any recommendations, if they think the laws need to be changed, if they have created anything that calls for new rules, or if they are dealing with corruption or bribery requests. All these issues can be resolved by just calling the helpline number.
What You Need to Access the Helpline Number?
A dedicated Startup India Desk will be established at the Ministry of Commerce & Industry. This desk will act as a helpline for startups throughout India, accessible through a straightforward 4-digit toll-free number. The support will be offered in regional languages, as per the official announcement made by the Ministry of Commerce and Industry. There are currently no additional details available. The toll-free number and other information will probably be made public by the ministry through official means shortly. Additionally, Piyush Goyal announced the second Fund of Funds for Startups (FFS), which will offer early-stage funding to new business owners who frequently struggle to obtain conventional sources of funding.
This year, the Small Industries Development Bank of India (SIDBI) would receive the first tranche of INR 2,000 crore from the approved FFS, which has a capital of INR 10,000 crore. He went on to say that a sizeable amount of the fund would be set aside for deep-tech innovative firms and small business seed funding. According to the statement, the fund will support the development of cutting-edge technologies where lengthy gestation periods and high capital requirements may become obstacles, including robotics, precision manufacturing, biotech, artificial intelligence (AI), machine learning (ML), quantum computing, and semiconductor design.
After Union Minister Piyush Goyal questioned the direction and focus of India’s startup ecosystem, entrepreneurs and leaders have risen to the occasion to defend it. Piyush Goyal critiqued the present trajectory of Indian companies, despite the fact that the country has the third-largest startup environment globally, behind the US and China. He noted that Chinese companies are focused on electric vehicles, battery technology, semiconductors, and artificial intelligence. On the other hand, many Indian businesses are concentrating on food delivery, betting, and fantasy sports. During his address at Startup Maha Kumbh, Goyal questioned if we needed to create chips or ice cream. “Dukaandari hi karna hai” means “want to do shopkeeping only?” Instead of striving for greater innovation and long-term advancement in critical technologies, he questioned whether the nation was satisfied with the creation of gig jobs.
Big Players Strongly Defer from the Minister
These comments have led to significant replies from well-known names in the startup and tech sector. Prominent investor and former Infosys CFO Mohandas Pai claimed the comparison to China was unjust and useless. He expressed concern about how government regulations are impeding the development of deep technology in India. These are poor analogies, Pai wrote on X. India has small startups in each of those fields as well. Instead of criticising the nation’s startups, Minister @PiyushGoyal ought to consider what he has done in his capacity as India’s minister to support the expansion of deep tech start-ups in his home country. He also attributed the obstacles to India’s financial structure and legislation. Pai further added that for long years, India’s hostile @FinMinIndia @nsitharaman harassed start-ups on angel tax, prohibited institutions from investing, and prevented insurance companies from investing, even though they did so all over the world. Due to FE regulations, @RBI frequently harasses foreign investors regarding remittances and AIFs and treats them poorly. Between 2014 and 2024, China made 845 billion dollars in investments. Just 160 billion dollars for India! He asked, “Why isn’t Minister @PiyushGoyal @AshwiniVaishnaw contributing to the resolution of these problems?” Ashneer Grover, a former co-founder of BharatPe, also blasted Goyal for disparaging the startup scene in India. According to him, India’s leaders are the only ones who require a “reality check.” Everybody else is living in India’s harsh reality.
Zepto’s Palicha Defended India’s Startup Sector
In response, Zepto founder Aadit Palicha praised Indian consumer internet businesses and emphasised the company’s effect, given that it was founded just 3.5 years ago. One of the pioneers of the fast e-commerce sector, Zepto became a unicorn in 2023. Through its online app, it launched the 10-minute delivery service, which its rivals have now embraced. According to Palicha, it is simple to condemn consumer internet companies in India, particularly when contrasting them with the advanced technological capabilities being developed in the US and China. In reality, there are currently around 1.5 lakh genuine people making a living on Zepto. Zepto has brought in over a billion dollars in foreign direct investment and paid over INR 1,000 crore in taxes to the government annually. On top of that, Zepto has spent hundreds of crores in India’s supply chains, particularly for fresh fruits and vegetables, he added. Palicha went on to say that big internet firms are crucial to the advancement of new technology. Why doesn’t India have a large-scale foundational AI model of its own? he asked.
On February 18, India’s Commerce Minister Piyush Goyal stated that the country wants to expand its commerce with Qatar beyond energy supplies to include semiconductors and artificial intelligence (AI). At the first meeting of the India-Qatar Business Forum on February 18, Goyal stated that while India welcomes energy products from Qatar, he believes that both countries are now looking to the future, with AI, the internet of things, semiconductors, and other technologies replacing energy as the mainstay of their trade.
Piyush Goyal went on to say that sustainability, technology and entrepreneurship, and energy will be the cornerstones of the future India-Qatar collaboration. The State of Qatar’s Minister of Commerce and Industry, Sheikh Faisal bin Thani bin Faisal Al Thani, was also in attendance at the Forum in New Delhi.
Signing of MoUs
The Confederation of Indian Industry (CII) and the Qatari Businessmen Association (QBA) have inked two Memorandums of Understanding (MoUs); Invest India and Invest Qatar have also signed one. Additionally, Minister Goyal declared that the Joint Working Group on Trade and Commerce would henceforth be at the ministerial level.
Petroleum goods, plastics, and aluminium products are among the main items that India imports from Qatar, while its exports to Doha include cereals, copper products, iron and steel items, fruits, and vegetables, among other things. As of April–November 2024, India has a $6.9 billion trade deficit with the other country.
Encouraging Companies from Qatar to Invest in India
Piyush Goyal also extended an invitation to Qatari businesses to participate in India’s expansion in smart city development, manufacturing, renewable energy, and infrastructure. Goyal went on to say that India’s Viksit Bharat 2047 and Qatar’s Vision 2030 will work together to create a far larger and more promising future for their respective populations. India offers an oasis of stability, predictability, and continuity, Goyal said, adding that the country’s industrial evolution is largely due to its dynamic economy, rich population, reforms, ease of doing business, and quality. Referencing Prime Minister Narendra Modi’s remarks, the minister said that confidence in India is more than ever in both major countries and worldwide forums. He also exhorted corporate executives to continue this collaborative and self-assured attitude. He continued by saying that India has a young population, a thriving economy, ongoing reforms, and a strong emphasis on industrial growth and ease of doing business.
According to Dr. Ahmed Bin Mohammed Al Sayed, Qatar’s Minister of State for Foreign Trade Affairs, the country is eager to broaden its economic connections with India beyond the conventional oil and gas industry, concentrating on new ventures and investments. Dr. Al Sayed emphasised the significance of Sheikh Tamim Bin Hamad Al Thani, the Amir of Qatar, visiting India in an exclusive interview with an Indian media outlet. He underlined that the visit is a reflection of the two countries’ solid strategic collaboration in a number of areas.
The ‘Bharat Cleantech Manufacturing Platform’ was launched by Commerce Minister Piyush Goyal. In order to promote cleantech manufacturing in the nation across industries like solar, wind, hydrogen, and battery storage, the platform will attempt to bring together players from policy, industry, finance, and research. The project was created to strengthen India’s cleantech value chain, according to an official release. Goyal made the announcement of the new platform on January 11, during the Bharat Climate Forum 2025 event in New Delhi. The minister also encouraged the audience to “think innovatively and increase manufacturing scale” in the nation during his remarks. According to him, the platform’s launch will give Indian businesses a chance to work together and co-innovate. He went on to say that the new project will provide a way to exchange resources, ideas, and technology as well as to finance projects. According to him, this would make India a compelling commercial case and a world leader in cleantech and sustainability.
The Sprawling Nexus of Cleantech Startups
Goyal also stated during the launch that subsidies and production-linked incentives (PLIs) are harmful to the renewable energy industry’s long-term expansion. The trade minister stated that the cleantech industry should aim to become self-sustaining and “independent of the government,” adding that such measures were crucial to only help launch the sector. The remarks coincide with the emergence of numerous cleantech startup companies in India to tackle environmental issues and develop creative ways to strike a balance between the demands of sustainability and economic growth. Electric cars, rooftop solar energy harvesting, organic waste management, and even air and water purification are some of these services.
Encouraged by the government’s initiative, PLI, and businesses’ increasing emphasis on environmentally responsible practices, the sector has also seen a substantial increase in investor interest. With $829 million raised from 75 agreements, the Indian cleantech ecosystem ranked as the sixth most funded industry in 2024.
Investors Pouring Funds in Cleantech Startup Sector
SolarSquare, a firm providing rooftop solar solutions, raised $40 million in its Series B fundraising round in December, with Lightspeed leading the deal. Last month, Zunroof also raised over $2.3 million in a round headed by ANBG Enterprise LLP, the Godrej family office. Kazam, a cleantech firm, raised $8 million in its Series A3 fundraising round in August of last year. Vertex Ventures Southeast Asia and India led the deal. India Accelerator launched a new vertical last year to support Indian cleantech firms, demonstrating the level of interest in the industry. All things considered, by 2040, the Indian cleantech market might be worth $41 billion.
According to Piyush Goyal, the minister of commerce, over 7 lakh vendors and service providers have joined the open network for digital commerce (ONDC) thus far. According to Goyal’s post on X, these vendors come from over 600 cities and villages spread all around the nation. He went on to say that over 15 crore transactions had been handled by the state-backed network so far. Additionally, ONDC has 200 network members. The Modi government established ONDC in 2021 with the goal of democratising e-commerce in India. In addition to hitting many milestones over the last three years, Goyal stated in a post on X that it has empowered businesses—particularly small businesses—by giving them an even playing field on the network. The minister of commerce also mentioned that in the three years after ONDC began operating, customers from 1,100 towns and cities have made purchases on the network.
PM Applauding ONDC
After Goyal’s tweet, Prime Minister Narendra Modi praised ONDC for “revolutionising” e-commerce. According to the PM, ONDC has played a crucial role in advancing growth and prosperity by empowering small enterprises and transforming e-commerce. This comes a few weeks after ONDC CEO Thampy Koshy claimed that since December 2023, the network’s transaction volume has increased by almost three times. By December 2025, he predicted, the state-backed network’s transaction volume would have increased 7X-8X. According to earlier reports, the festive season sales were a major factor in ONDC’s 1.4 Cr transactions in October 2024. The mobility segment accounted for 55 lakh of these transactions, while the non-mobility segments accounted for the remaining 84 lakh.
Founded in 2021, ONDC is an open protocol-based network that facilitates local business in a variety of sectors, such as grocery and transportation. Under the auspices of the Department of Promotion of Industry and Internal Trade (DPIIT), ONDC is essentially the government’s idea to create a rival to the e-commerce behemoths and provide MSMEs and small merchants with greater visibility.
Challenges Faced by ONDC
With businesses and unicorns like Zerodha, PolicyBazaar, and Physics Wallah drawn to the platform’s democratising strategy, it has expanded its offerings into industries including food delivery, e-commerce, and taxi hailing. Even with this remarkable growth, ONDC still faces challenges, especially in terms of performance and awareness.
Brands like True Elements, which reported a sharp drop in revenue through the platform in 2024 when compared other marketplaces with better performance, presented one such difficulty. Even while ONDC provides an affordable means of reaching a big consumer base, a major barrier to achieving its full potential is still its low consumer visibility.
Chinese retailer Shein, which intends to re-enter India soon in collaboration with Reliance Retail, will not have access to the data gathered from Indian users, Union Commerce Minister Piyush Goyal informed the Parliament. According to the agreement, the platform (Shein India) will always be housed on Indian infrastructure, and all platform data—both personal and non-personal—generated by the platform’s operations, including all data gathered from Indian customers, will stay in India. “Shein will not have access to or control over this data,” Goyal stated.
This implies that all data produced by the app and the future platform will be housed and kept in India. The minister noted that the license agreement between Reliance Retail and Shein requires the two parties to guarantee localisation of the infrastructure and platform data in response to a query from Congress MP Sasikanth Senthil. The minister added that “any” government-appointed cybersecurity auditor may conduct the security examination of Reliance Retail’s infrastructure and that the company has also been “advised” to guarantee adherence to local regulations.
Re-Entering Indian Market After 4 Years
Shein’s return to India occurs over four years after the platform was “banned” in 2020 due to concerns raised by the Centre that Shein’s parent business was sending or storing Indian users’ data to China. Goyal clarified this on 17 December, stating that although the sale of “branded products” from the Chinese online fashion retailer was never prohibited, Shein’s app was stopped on June 29, 2020. According to him, Shein’s Singapore-based company, Roadget Business Pte Ltd, has signed a technology agreement with Reliance Retail Ventures Limited’s (RRVL) subsidiary Reliance Retail Limited (RRL) to create an Indian e-commerce retail platform. In 2023, the contract was signed. The textile ministry then conferred with the electronics and IT ministry (MeitY) on the issue, Goyal said in the Lok Sabha. Following the home ministry’s permission, MeitY expressed no opposition to RRVL’s plan to repatriate Shein.
Promoting Indigenisation
According to Goyal, this indigenous platform would establish a network of regional suppliers and manufacturers that would produce goods under the Shein brand and market them both domestically and internationally. “It is anticipated that this will contribute to the expansion of the Indian textile manufacturing industry, encompassing regional handicrafts, and generate substantial job opportunities,” Goyal continued. Reliance Retail, which now only receives a licence fee as a portion of earnings made within India, will now offer the Chinese retailer’s products on its apps and in physical locations. However, all data and the app itself will be housed and stored in India, and operations will be fully run by a Reliance Retail subsidiary. Nevertheless, it is unclear if Shein would be able to re-enter the Indian market and achieve the same level of success as during its initial presence there. In 2021, the Chinese company made a second attempt to enter India in collaboration with Amazon, the world’s largest online retailer, but it was unsuccessful.
Union Minister Piyush Goyal stated on 28 November that the Ministry of Electronics and Information Technology is still considering new rules for India’s laptop import policy. “I think this is still under deliberation,” Goyal responded when asked about the import authorisation mechanism for IT hardware products and the types of regulations the government is considering. The Ministry of Electronics and Information Technology is in charge of it. “I have no idea what they are thinking about in the future,” he added further.
In September of this year, the government prolonged the permission process for the import of specific IT hardware goods, such as laptops and tablets, for a period of three months, ending on December 31.
Importers Need to Apply for Fresh Registration from 1st January
In 2023–2024, these imports totalled $8.4 billion, compared to the approximately $9.5 billion authorised. China was the primary source of these imports.
Specifically, importers are permitted to apply for import authorisations, which will remain in effect until December 31, 2024. Additionally, the Directorate General of Foreign Trade (DGFT) had stated in a policy circular in September that the current import authorisations granted until September 30, 2024, would be valid until December 31, 2024.
With effect from January 1, 2025, importers will have to apply for new authorisations, “subject to detailed guidance to be provided shortly.” Goyal also commended Masayoshi Son, the CEO of Japan’s SoftBank Group, who visited portfolio company founders while on a stopover in Delhi on November 27, 2024.
“Regarding Masayoshi Son, I applaud his news that he will be increasing investments in India.” The Commerce and Industry Minister stated, “India is undoubtedly a country where people have made good returns.” “He was a very daring investor who believed in Prime Minister Narendra Modi and the India story. I had a lot of interaction with him when I was the Power and Renewable Energy Minister,” Goyal added.
India has Become Preferred Destination for Investors
The minister claimed that India has attracted international attention and that foreign companies are eager to invest in this country. Regarding the billionaire founder of Japan’s SoftBank Group, the minister stated, “Everywhere we go, there is a huge interest and investment appetite to come and invest in India, and we would warmly welcome Son to continue looking at India and the possibilities of investment in India.”
The minister added that despite geopolitical difficulties brought on by the Red Sea crisis and back-to-back wars, he anticipates that India’s exports of goods and services will exceed $800 billion in the current fiscal year 2025.
“In some ways, despite inheriting such a weak economy, India anticipates surpassing 800 billion dollars in exports for the first time in its history in 2024–2025. The Indian currency is also one of the best performing among all emerging markets and is not depreciating. “India has doubled its exports during Prime Minister Modi’s tenure despite two years of COVID, two international wars, and the Red Sea crisis,” Goyal stated.
On 18 September 2024, in New Delhi, the Artificial Intelligence (AI) and Machine Learning (ML) based Trademark Search Technology and IP Saarthi Chatbot were unveiled to the public by Piyush Goyal, Union Minister of Commerce and Industry.
The search technology would enable faster clearance of trademark applications in a manner that is both more efficient and accurate, according to Goyal, who made this statement during the inaugural event. In addition to this, he expressed the expectation that the platform would be able to resolve trademark-related problems and said that the incorporation of official languages into the updated editions would establish this search module as a standard in the entire world. Speaking about the debut of the search module and the IP chatbot, the Minister mentioned that the quality of patent disposals will also increase.
He also mentioned that the government is trying to combine technologies based on artificial intelligence and machine learning to expedite the clearance of designs. Furthermore, the Minister emphasized that artificial intelligence tools that are controlled by the government should be compatible with devices that have all user interfaces and a variety of technological equipment to facilitate speedier adoption.
Elaborating on the benefits of AI-powered IP Chatbot, Rashmi Kulkarni, Co-founder & Director of IndoAI Technologies Pvt. Ltd. stated, “The AI-powered IP Chatbot introduced by Piyush Goyal offers several tangible benefits, particularly in simplifying the intellectual property (IP) management process. One of the key advantages is its ability to provide real-time assistance for common IP-related inquiries, helping users—especially startups, small businesses, and first-time applicants—navigate the often complex legal and administrative procedures of IP registration.”
“By offering 24/7 access to information, the chatbot eliminates the need for individuals to rely on human assistance during working hours, which can result in faster resolutions to queries and significantly reduce waiting times. The chatbot can guide users through trademark registration, patent filings, or copyright issues, thus enhancing the overall user experience,” she added further.
Adding further on that note, Dipal Dutta, CEO & Founder- RedoQ opined, “In India, a business or an individual had to wait two to three years after making a patent application to get a product registered. Such a long patenting period was detrimental to the businesses as it delayed the products’ entry into the market. Hopefully, the newly launched AI-powered trademark search module will expedite the process allowing the companies to register the products quickly. The new tool could be very handy, especially for startups and emerging businesses who do not always have large capital to sustain through the ideation phase.”
“The integration of the IP Saarthi Chatbot is also a practical solution for assistance with the IP registration system. The chatbot will help users, particularly those new to the process, understand the steps involved and avoid common pitfalls,” he explained further.
Steps Taken by the Government to Encourage Innovations
According to Goyal, the process of women submitting patent applications has undergone a significant alteration over the past ten years. According to the Minister, the decision to decrease the costs that are collected for patents by 80% for startups, micro, small, and medium-sized enterprises (MSMEs), women entrepreneurs, individuals, and academic institutions was made in order to promote innovators.
The Trade Connect e-Platform, the Jan Sunwai Portal, the ECGC’s new online service portal alongside a revamped in-house SMILE-ERP system, BHASKAR – the one-stop shop for everything a startup needs, and the Trademark Search technology today are the five technology-based services that were launched in a single week.
Deepak Syal, Director, GreyB Services stated, “Just as UPI took complex banking functions and put them in the hands of everyday people, this tool by the Ministry of Commerce and Industry has simplified the intricate and often confusing world of IP law, making it accessible to everyone. When you take something as powerful as intellectual property—fueling innovation and creativity—and make it as easy to navigate as sending a text, you spark a revolution. This AI tool has simplified a system historically locked behind layers of bureaucracy and legalese. Now, both the solo entrepreneur running a startup in a Tier III city and the employee of a large organization in Bangalore can gain clarity on how to manage their ideas.”
“Like most legal matters, obtaining a trademark has always been complex and expensive. It needs time, money, and legal expertise. But now, technology offers a positive change. AI promises to make securing trademarks easier and faster,” opined Mahesh Maan, Data Scientist, GreyB Services
Goal of DPIIT
With the introduction of its Artificial Intelligence (AI) and Machine Learning (ML)-based Trademark Search technology, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry intends to transform intellectual property management.
Key Features of New Technology
Advanced AI and ML algorithms for precise trademark identification
Streamlined search processes for domestic and international businesses
Enhanced protection capabilities for trademarks
This significant technological advancement demonstrates India’s commitment to developing an intellectual property environment that is strong, efficient, and user-friendly. This serves as a monument to the efforts that the government has made to streamline intellectual property procedures, which will be of advantage to inventors and policymakers on a worldwide scale.
