Fifteen years after disrupting India’s eyewear market, Peyush Bansal, co-founder of Lenskart, is set to join the billionaire club with the company’s upcoming IPO. According to Bloomberg, Lenskart aims to list as early as November with a targeted valuation of $9 billion. This would value Bansal’s stake at around $800 million, potentially crossing $1 billion if the stock gains 25% post-listing. The IPO marks a revival of investor confidence in founder-led startups after a challenging funding phase.
Built with robotic manufacturing and a seamless online experience, Lenskart has become a leader in India’s eyewear market and is expanding into Southeast Asia, where demand mirrors India’s growth trajectory. Bansal, an engineer from McGill University and a former Microsoft employee, started Lenskart from a small Faridabad office with three partners he met on LinkedIn.
The company now manages its full supply chain, operates 2,723 stores globally, and derives 40% of its revenue from international markets. Proceeds from the IPO will fund expansion, technology upgrades, and AI innovation. Lenskart’s next frontier is smart eyewear, integrating AI tools, UPI, cameras, and headphones — a move Bansal says must be timed wisely.
