Lenskart IPO: Is an 8x Valuation Jump in Two Months Justified—or Just Hype?

Eyewear retailer Lenskart is gearing up for its much-anticipated IPO on October 31, but behind the glitter of Dalal Street lies a valuation puzzle that’s raising eyebrows across the investor community. The company, led by Shark Tank India’s Peyush Bansal, is eyeing a near Rs 70,000 crore valuation—almost eight times higher than what it was valued at barely two months ago.

How Bansal’s stake buyout sparked the debate

According to filings, Bansal borrowed over Rs 200 crore in July 2025 to acquire 4.2 crore Lenskart shares at just Rs 52 apiece, buying out stakes from early investors including SoftBank, Chiratae Ventures, Kedaara Capital, TR Capital, Temasek, and Premji Invest. At that time, the company’s valuation stood around Rs 8,700 crore (approximately $1 billion). Now, within a span of just twelve weeks, the IPO price band of Rs 382–Rs 402 implies a valuation close to $8 billion—an 8x leap that few traditional businesses could justify on fundamentals alone.

IPO-Bound Lenskart's Peyush Bansal Faces Flak As Valuations Zoom 230 X PE | Republic World

Founder’s Big Payday

Bansal himself will offload 2.05 crore shares through the offer-for-sale (OFS), pocketing nearly Rs 824 crore while still retaining an 8.78% stake. His average cost of acquisition stands at merely ₹18.6 per share, translating to a staggering 2,000% return.

Are Fundamentals Keeping Up with Valuation?

Many analysts, on social media platforms, have claimed that such steep revaluations, especially over a short period, risk stretching investor expectations. While Lenskart has built a dominant brand in India’s eyewear segment with strong online-to-offline integration, questions linger about its profitability trajectory and whether growth justifies such aggressive pricing, as per analysts.

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