Eyewear giant Lenskart is preparing for its long-awaited stock market debut in Mumbai, targeting a valuation of $9 billion.
The move marks a renewed wave of investor confidence in founder-led Indian startups, positioning Lenskart as one of the country’s most successful homegrown consumer-tech ventures.
The IPO proceeds are expected to strengthen the company’s market presence, drive expansion across India and Southeast Asia, and fund new investments in AI, technology, and smart eyewear innovation. The company also plans to utilize the capital for new store openings, acquisitions, and overall corporate growth.
Founded over 15 years ago by Peyush Bansal, along with partners he met on LinkedIn, Lenskart began as an ambitious idea to make vision care accessible and affordable. From a small office in Faridabad, the company has evolved into a multi-billion-dollar enterprise, transforming India’s eyewear industry through technology, automation, and design innovation.
Under Bansal’s leadership, Lenskart has achieved end-to-end integration, from design and manufacturing to retail and delivery. The company operates robotic production units in India, powered by German machinery, enabling large-scale precision manufacturing. With over 2,700 stores across India and international markets, nearly 40% of Lenskart’s revenue now comes from regions like Southeast Asia and the Middle East.
The company’s success also reflects Bansal’s focus on sustainable and profitable growth. Lenskart reported its first full-year profit in FY24, setting itself apart from many Indian startups still chasing profitability. Backed by investors such as SoftBank and Fidelity Management & Research, Lenskart’s latest valuation surge underscores the power of long-term vision and patient capital.
A familiar face to millions as a Shark Tank India judge, Bansal combines entrepreneurial grit with approachability. Yet beyond the television spotlight, he continues to innovate. Currently he is overseeing the construction of the world’s largest eyewear manufacturing facility in Hyderabad, spread across 50 acres and designed to produce hundreds of thousands of glasses every day.
A McGill University alumnus and former Microsoft engineer, Bansal’s ambitions extend beyond retail. Lenskart is now developing smart eyewear equipped with AI, UPI integration, cameras, and audio features.
As the IPO nears, Bansal stands on the brink of joining India’s billionaire ranks, with his stake in Lenskart estimated at around $800 million, potentially crossing $1 billion post-listing.
