Ahead Of IPO, Lenskart CEO Says Valuation Is For Investors, Not Entrepreneurs

Lenskart founder and CEO Peyush Bansal has brushed aside concerns over the eyewear brand's lofty valuation ahead of its upcoming initial public offering (IPO). The entrepreneur said his job was to serve customers, not to set market prices.

"I'm only justifying the value for the customer, right? How to make the best quality spectacles every day at the lowest price possible is the job," Bansal told NDTV Profit.

Responding to questions about Lenskart's valuation being significantly higher than that of its global peers on metrics such as price-to-earnings and price-to-EBITDA, Bansal said he did not see valuation-setting as an entrepreneur's role. He added that determining valuation was largely the work of financial advisors and investors.

"It is not our job to decide valuation," he said, adding that he understood it "less" than others in the ecosystem.

"Mereko toh justify karna hi nahi hota hai..."

Here's what Peyush Bansal had to say when asked about #Lenskart's high valuation. @Vishwanath4389

Listen in ???? pic.twitter.com/IxPm66KxAc

— NDTV Profit (@NDTVProfitIndia) October 28, 2025

Lenskart Solutions Ltd will launch its IPO on October 31. The public issue, worth Rs 7,278 crore, includes a fresh issue of 53.5 million equity shares amounting to Rs 2,150 crore and an offer for sale (OFS) of 127.6 million shares worth Rs 5,128.02 crore.

The three-day bidding window will close on November 4. The basis of allotment is expected to be finalised on November 6, and the stock is likely to be listed on the NSE and BSE on November 10.

The company is looking for a higher valuation than other eyewear and retail brands, including Nykaa, thanks to its strong sales growth and fast expansion as a consumer tech company.

Jayasankar Venkataraman, managing director at Kotak Mahindra Capital, which is advising on the listing, supported Bansal's view and explained how institutional investors are assessing the company's valuation.

He said the market should wait for the announcement of anchor investors, expected later this week. "You'll find all the marquee DIIs and FIIs really participating in the book," Venkataraman said.

He added that for consumer tech companies like Lenskart, growth and scalability are the most important factors. Lenskart has grown rapidly in both India and international markets and has shown strong operational efficiency, he said.