Shark Tank Judge Peyush Bansal Approaches Billionaire Status as Lenskart Plans IPO

Peyush Bansal, the 41-year-old entrepreneur and Shark Tank India judge, is approaching billionaire status as Lenskart Solutions Ltd. gears up for a public listing in Mumbai. Founded over 15 years ago with partners he connected with on LinkedIn, Lenskart has grown into a multi-billion-dollar eyewear business, combining innovation, retail, and technology to capture a leading position in India and Southeast Asia.

Lenskart IPO and Valuation

Lenskart is targeting an IPO as early as next month, aiming for a valuation of $9 billion based on filings and market sources. Post-IPO, Bansal’s stake could be worth approximately $800 million, and it may surpass $1 billion if shares rise around 25% on debut.

This public listing underscores the renewed investor confidence in founder-led Indian startups after a period of funding slowdowns and valuation challenges.

Innovative Production and Business Model

Lenskart has carved a niche in eyewear production by combining robotic manufacturing from German machinery with an intuitive online platform, enabling customers to order and virtually try glasses. This integration of technology and manufacturing positions Lenskart as a leader in consumer-focused, tech-driven eyewear solutions.

The company is also expanding internationally, targeting markets like Indonesia and Vietnam, where Bansal observes demand patterns similar to India’s a decade ago.

Market Potential in India

Bansal notes, “India is the myopia capital of the world, and many people need glasses. Solving this problem will naturally drive scale, profitability, and market capitalization.”

The Gurugram-based company is profitable, distinguishing it from earlier Indian consumer-tech startups. In the fiscal year ending March 31, Lenskart reported its first full-year profit, showcasing a sustainable business model.

Shark Tank Influence and Public Presence

Bansal enjoys a strong personal brand, backed by his role as a judge on Shark Tank India and an Instagram following of over 900,000. This public recognition enhances Lenskart’s visibility and consumer trust, providing a loyal customer base ahead of its IPO.

He emphasizes persistence and innovation, sharing that he and co-founder Amit Chaudhary dedicate one day each week to brainstorming, yielding a 50% success rate in ideas.

Investor Confidence and Market Context

The IPO comes amid challenging market conditions, including geopolitical tensions and cautious investors. Some Indian startups have seen valuation declines, exemplified by Oyo Hotels, which fell from a $10 billion peak before recovering.

Lenskart benefits from patient investors like SoftBank, holding about 15% of the company, and emphasizes long-term growth. Earlier this year, Fidelity Management & Research valued the firm at $6.1 billion. The IPO will test investor appetite for Indian consumer-tech stocks in the current market.

Supply Chain and Expansion Plans

Lenskart relies on China for over one-third of its supplies, including frames, molds, and raw materials. Bansal acknowledges this risk but considers it manageable.

The company is also building a 50-acre manufacturing facility in Hyderabad, expected to be the world’s largest, with the capacity to produce hundreds of thousands of glasses daily.

Founder’s Journey

A McGill University engineering graduate, Bansal started at Microsoft before returning to India to pursue entrepreneurship. His first venture in student housing led him to vision care, identifying a massive gap in eyewear access. Starting from a small office in Faridabad with three LinkedIn partners, Lenskart now controls nearly all aspects of its value chain, from lens design to last-mile delivery.

The company employs hundreds of ophthalmologists in Kolkata for remote eye consultations and is developing AI-based testing tools for smaller cities.

Future Plans and Innovation

Lenskart plans to use IPO proceeds to:

• Open new stores across India

• Invest in technology and AI capabilities

• Pursue acquisitions

• Fund general corporate purposes

As of March, Lenskart operated 2,723 stores in India and markets like the Middle East and Southeast Asia, with 40% of revenue from outside India.

The next major focus is smart eyewear, integrating UPI payments, AI tools, cameras, and headphones. Bansal emphasizes careful timing in launching new products.