‘Lenskart is not built to chase valuations, but…’: Peyush Bansal pens emotional note ahead of IPO

Ahead of the listing on Monday, Lenskart’s co-founder Peyush Bansal shared a note to shareholders, reflecting on the company’s 15-year journey from a small eyewear startup to a global omnichannel brand worth nearly Rs 70,000 crore. The company’s shares will debut on the stock exchanges tomorrow, marking a milestone for the company. The IPO, which raised Rs 7,278 crore, was subscribed 28 times, attracting bids worth nearly Rs 1 lakh crore. Despite a volatile gray market, investor interest during the bidding was healthy.In his note, Bansal said he did not dream of one day ringing a bell, but wanted to solve a simple, human problem that millions of people in India could not see clearly. He recalled how one of Lenskart’s first customers, a school teacher, burst into tears after wearing her first glasses in years.

That emotional moment, he said, became the soul of Lenskart, to help people see clearly and live fully.He further wrote, “Sometimes it takes one person’s smile to remind you why you started”. He reflected on the company’s obsession with customer experience, from the smallest store details to the speed of service. Excellence knows no geography. Be it Patna or Tokyo, the standard should be the same.”

Even today, Bansal says, he personally reviews store feedback every week. “We didn’t start with a grand plan, but with the belief that we could wow customers with something as simple and powerful as vision.”

He reminded investors that Lenskart was not built to chase value appreciation, but to reach people from the heart of Delhi to the smallest towns in the Northeast. In an indirect reference to the company’s profits, Bansal said that ultimately it is the oxygen that keeps the company alive, but breath is a higher purpose. Reflecting on India’s entrepreneurial transformation, Bansal recalled returning from Microsoft at a time when building global Indian businesses was still a dream. “I came back with a dream, that India can build companies that stand shoulder to shoulder with the best in the world and still carry India in their DNA.” Comparing the journey to Flipkart’s sale to Walmart, he called that era bittersweet: India celebrated, but still sold its dreams early. “Lenskart was born from that dream, that India can build global institutions, not just startups.”

“Tomorrow is not about looking back, but about starting over,” Bansal said, adding that the IPO bell would not sound like a victory but a reminder “to keep building, keep innovating, keep serving and keep dreaming.”

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“We started Lenskart to help India see better. Now we’re building so the world can see through India, an India that designs with conscience, builds with excellence and leads with heart.”

Lenskart was targeting a valuation of around Rs 70,000 crore for its IPO, which analysts called a bit overpriced. However, most brokers had recommended investing in the IPO for the long term, given the industry’s strong tailwinds going forward.