Lenskart's all set for its IPO but the franchisees behind its success want to drag it to court

Lenskart has grown into one of Asia’s biggest eyewear companies and is now gearing up for a massive IPO. It is aiming to raise ₹2,150 crore through a fresh issue as part of an ₹8,000 crore public offering.  But as the company prepares to go public, a storm is brewing behind the scenes. A group of former franchise store owners is accusing Lenskart of unfair practices and even fraud. They're alleging they were kept in the dark about store finances and undercut by company-owned outlets opening next door. Now, these franchisees are pushing the Karnataka High Court to reopen an investigation into the company even as Lenskart insists it’s a contractual dispute. Tune in. Daybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories. One channel. Every show. No more switching feeds. Follow The Ken on Apple Podcasts or tune in on The Ken app.