ET Startup Awards 2025: Criticism isn't always negative, says Peyush Bansal on Lenskart's IPO valuation comments
Criticism isn’t always a bad thing, Lenskart chief executive Peyush Bansal said, reacting to comments on IPO overvaluation in a fireside chat with ETtech editor Samidha Sharma. “Shark Tank has somewhat trained me for the public world.”
The omnichannel eyewear retailer seems set for a Rs 7,300-crore initial public offering (IPO), which is expected to value Lenskart at nearly Rs 70,000 crore when it gets listed on the exchanges on November 10.
The company’s valuation has resulted in intense public scrutiny and sharp comments on social media.
Also Read | Lenskart IPO: Eyewear retailer's anchor book gets bids worth Rs 68,000 crore from top FIIs, domestic MFs: sources
“Sometimes criticism can be a good thing. It is important to listen to another’s point of view, but at the same time have your own,” Bansal said. “In my mid-year review in Microsoft, my manager said I handle criticism really well and that was the only thing she said about me. So, that's what is working for me today.”
Lenskart’s IPO was fully subscribed on Friday — the first day --- itself. The investor enthusiasm belies concerns over the Rs 70,000 crore valuation Lenskart is targeting with its IPO. “I’m humbled by the Indian and global investors' participation in Day 1 of the IPO,” Bansal said.
Also Read | Lenskart IPO: We need to win credibility with new set of investors as we go public: Peyush Bansal
On manufacturing
About 50% of Lenskart’s manufacturing is happening in India, he explained, adding, “The easier choice for us is to import everything. But the tough choice was to set up an engineering team to build the hardware and software and be in control of the data. We didn't want to be a distributor of glasses, where the work is done by someone else.”
On artificial intelligence
Earlier this year, Lenskart launched bluetooth-enabled “Phonic” smartglasses in partnership with Qualcomm. It plans to launch another version with a camera and video capability in the future.
“I think there is a lot of AI happening in India. It’s not just happening in the US and China. AI and technology are a means to an end. At Lenskart, we talk about how we are high on AI. For instance, we have our smart glasses,” said Bansal.
Also Read | IPO a pit stop in a longer journey, have to create value for stakeholders: Lenskart CEO Peyush Bansal
The omnichannel eyewear retailer seems set for a Rs 7,300-crore initial public offering (IPO), which is expected to value Lenskart at nearly Rs 70,000 crore when it gets listed on the exchanges on November 10.
The company’s valuation has resulted in intense public scrutiny and sharp comments on social media.
Also Read | Lenskart IPO: Eyewear retailer's anchor book gets bids worth Rs 68,000 crore from top FIIs, domestic MFs: sources
“Sometimes criticism can be a good thing. It is important to listen to another’s point of view, but at the same time have your own,” Bansal said. “In my mid-year review in Microsoft, my manager said I handle criticism really well and that was the only thing she said about me. So, that's what is working for me today.”
Lenskart’s IPO was fully subscribed on Friday — the first day --- itself. The investor enthusiasm belies concerns over the Rs 70,000 crore valuation Lenskart is targeting with its IPO. “I’m humbled by the Indian and global investors' participation in Day 1 of the IPO,” Bansal said.
Also Read | Lenskart IPO: We need to win credibility with new set of investors as we go public: Peyush Bansal
On manufacturing
About 50% of Lenskart’s manufacturing is happening in India, he explained, adding, “The easier choice for us is to import everything. But the tough choice was to set up an engineering team to build the hardware and software and be in control of the data. We didn't want to be a distributor of glasses, where the work is done by someone else.”
On artificial intelligence
Earlier this year, Lenskart launched bluetooth-enabled “Phonic” smartglasses in partnership with Qualcomm. It plans to launch another version with a camera and video capability in the future.
“I think there is a lot of AI happening in India. It’s not just happening in the US and China. AI and technology are a means to an end. At Lenskart, we talk about how we are high on AI. For instance, we have our smart glasses,” said Bansal.
Also Read | IPO a pit stop in a longer journey, have to create value for stakeholders: Lenskart CEO Peyush Bansal
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