'We have to build like Jio': Lenskart CEO Peyush Bansal on IPO vision, long-term growth
Lenskart IPO: The price band is set at Rs 382–Rs 402 per share, with the issue closing on November 4 and listing scheduled for November 10.
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IPO-bound eyewear unicorn Lenskart’s co-founder and CEO Peyush Bansal said his sentiment around the company’s public debut feels like “Day Zero” -- the same as when he started the company in 2010.
In an interview with Moneycontrol, Bansal said taking Lenskart public is a new experience as it involves “building a fresh set of investors, selling the story, and earning trust.” “It’s a fresh start in many ways. It almost feels like Day Zero,” he added.
Lenskart will launch its IPO on October 31, aiming to raise Rs 2,150 crore through a fresh issue, while existing shareholders will offload up to 12.75 crore shares via an offer for sale (OFS). Backed by ADIA, SoftBank, and Temasek, the company is targeting a valuation of around Rs 70,000 crore. The price band is set at Rs 382–Rs 402 per share, with the issue closing on November 4 and listing scheduled for November 10.
Explaining the IPO structure, Bansal said the company has “decent money” on its balance sheet and positive cash flow, which is why the fresh issue size is modest. “We only needed a little bit more for certain specific activities. That’s why we are not raising more than what we need in the near term,” he said.
Bansal emphasised that the IPO is not an exit event, but a new milestone toward building a “long-term, sustainable organisation that can exist for decades.” “We want to improve lives, solve vision issues, and create shareholder value,” he said.
Over the next 6–12 months, Lenskart aims to democratise eye testing using technology. “India has only about 30 optometrists per million people. We’re testing how one optometrist, who currently does 10 eye tests a day, can do 30 or 40 using remote optometry,” Bansal said.
Drawing an analogy with Reliance Jio, Bansal added, “We have to build capacity — like Jio laid optic fiber to enable 5G. For us, it’s about laying the foundation for India’s eyewear ecosystem. We need to make in India and scale manufacturing to 100–200 million pairs annually.”
On emerging technologies, Bansal revealed that Lenskart launched Bluetooth-enabled smart glasses earlier this year and will soon roll out a camera-integrated version, signalling the company’s continued push into wearable tech and R&D.
