Ashish Kashyap and Sayali Karanjkar Appointed as Independent Directors on Lenskart's Board, Filling the Vacancy Left by Sumer Juneja's Departure on June 17, 2025.
In a significant move, Indian eyewear retailer Lenskart has appointed Ashish Kashyap and Sayali Karanjkar as independent directors on its board. The appointments, finalized last week, come as Lenskart prepares to enter the public market, joining the ranks of other startups such as Meesho, PhysicsWallah, Pine Labs, Urban Company, Wakefit, Groww, and Shadowfax in this endeavour.
Ashish Kashyap, the founder of INDmoney, and Sayali Karanjkar, co-founder of PaySense, bring a wealth of experience to Lenskart's board. Ashish Kashyap boasts over 25 years of experience in leadership roles at startups and global tech firms like Google and Times Internet. Sayali Karanjkar, on the other hand, has a strong fintech background, with previous roles at PaySense, ElasticRun, and board memberships in companies like MobiKwik.
The appointments are part of Lenskart's efforts to strengthen corporate governance standards ahead of its planned Initial Public Offering (IPO). The company has transitioned into a public limited entity last month, changing its name from Lenskart Solutions Private Limited to Lenskart Solutions Limited, in preparation for this significant milestone.
The exact roles and responsibilities of Ashish Kashyap and Sayali Karanjkar on Lenskart's board are not detailed. However, their appointments follow the exit of Sumer Juneja, a managing partner at SoftBank Investment Advisers, who stepped down from the board on June 17, 2025. SoftBank has a history of vacating board positions at portfolio companies either before or soon after their public listings, as seen in companies like Swiggy, Meesho, PB Fintech, and Paytm.
Lenskart plans to raise INR 2,150 crore (about USD 250 million) through a fresh share issue, with an overall initial public offering size of about INR 8,500 crore (USD 1 billion). The planned listing is expected to be a significant milestone for India's consumer internet space, with a targeted valuation of INR 85,000 crore (about USD 10 billion).
The news of Lenskart's upcoming IPO comes after the company received shareholder approval during the annual general meeting on July 26, 2025. Jayesh Tulsidas Merchant and Bijou Kurien are already serving as independent directors on Lenskart's board.
[1] Source: Livemint [2] Source: The Economic Times [3] Source: Business Standard
- With their extensive backgrounds in finance, technology, and leadership roles at startups, Ashish Kashyap and Sayali Karanjkar's appointments to Lenskart's board could potentially contribute to successful investment and development strategies for the startup's future business growth.
- The addition of Ashish Kashyap, a prominent figure in the fintech sector, and Sayali Karanjkar, who has experience in fintech and corporate governance, may signal Lenskart's intent to explore various financial options as they prepare for their Initial Public Offering (IPO), aiming to secure a significant place in the finance-driven technology landscape.
- Given the impressive track records of Ashish Kashyap and Sayali Karanjkar in their respective fields, their appointments to Lenskart's board could prove instrumental in navigating the complex worlds of corporate governance, technology, and finance, as the startup moves towards its public listing and aims to join the ranks of India's top consumer internet businesses.
