Fifteen years after Peyush Bansal co-founded Lenskart with partners he met on LinkedIn, the entrepreneur is poised to enter the billionaire club as the company prepares for its initial public offering (IPO).

According to Bloomberg sources, Lenskart could list on the stock market as early as November, targeting a valuation of around $9 billion on Dalal Street. This would give Bansal a stake close to $800 million after selling a small portion of his shares. If Lenskart shares rise about 25% on debut, Bansal’s stake could exceed $1 billion, Bloomberg’s Billionaires Index estimates.

Investor Confidence Returns

The upcoming IPO signals renewed investor confidence in founder-led ventures, following a period when India’s top startups struggled with funding and growth. Lenskart has distinguished itself with a unique production model, using robotic manufacturing systems imported from Germany, and an online platform that allows customers to order and try eyewear remotely.

Expansion and Market Potential

Lenskart is now expanding across Southeast Asia, with demand patterns in Indonesia and Vietnam mirroring India’s trajectory a decade ago. Bansal notes the huge domestic opportunity:

“India is the myopia capital of the world, and a lot of our people need glasses. If we can solve that, everything else, including scale, profit and rising market capitalisation, will follow.”

Profitable Growth

Unlike many earlier Indian consumer-tech listings, Lenskart already generates profits. The Gurugram-based company, which designs, manufactures, and sells eyewear both online and through retail outlets, reported its first-ever full-year profit in the fiscal year ending March 31.

With the IPO, Bansal not only cements his status as a successful entrepreneur but also sets the stage for Lenskart’s growth both in India and overseas.