Lenskart Eyes Rs 70,000 Crore Valuation as Co-founder Reflects on Journey Ahead of IPO
Lenskart, the eyewear startup, is set to make its stock market debut after a highly successful IPO. The offering raised Rs 7,278 crore, was oversubscribed 28 times, and received bids worth nearly Rs 1,00,000 crore. The company is valued at Rs 70,000 crore. Co-founder Peyush Bansal shared an emotional note with shareholders, emphasizing the company's mission-driven approach, customer impact, hands-on management, and global vision. While some analysts consider the valuation overpriced, most brokerages recommend subscribing to the IPO, citing long-term growth prospects.
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Lenskart, the eyewear startup turned global brand, is set to make its stock market debut following a highly successful Initial Public Offering (IPO). As the company prepares for this milestone, co-founder Peyush Bansal shared an emotional note with shareholders, offering insights into the company's journey and vision.
IPO Highlights
| Metric | Value |
|---|---|
| IPO Size | Rs 7,278.00 crore |
| Subscription Rate | 28.00 times |
| Total Bids Received | Nearly Rs 1,00,000.00 crore |
| Valuation | Rs 70,000.00 crore |
Bansal's Reflections
In his note to shareholders, Peyush Bansal emphasized several key points:
Mission-Driven Approach: Lenskart was founded to solve the problem of millions in India who couldn't see clearly, rather than chasing valuations.
Customer Impact: Bansal recalled emotional customer moments, including a school teacher who cried after wearing her first glasses in years.
Hands-On Management: He personally reviews store feedback weekly and maintains consistent service standards across all locations, from Patna to Tokyo.
Global Vision: Bansal expressed his ambition of building global Indian companies that carry India's DNA, drawing parallels to India's entrepreneurial transformation since the Flipkart-Walmart era.
Market Perspective
While Lenskart's IPO has generated significant interest, some analysts have termed the Rs 70,000.00 crore valuation as overpriced. However, most brokerages have recommended subscribing to the IPO, citing long-term growth prospects.
Looking Ahead
As Lenskart transitions from a startup to a publicly-traded company, investors and market watchers will be keen to see how it navigates the challenges and opportunities that come with this new phase. The company's ability to maintain its customer-centric approach and service quality while meeting the expectations of public shareholders will be crucial.
The successful IPO and imminent stock market debut mark a significant milestone not just for Lenskart, but also for India's startup ecosystem, showcasing the potential for homegrown companies to achieve global scale and recognition.
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