Peyush Bansal Bets Big: Buys Lenskart Shares at 90% Discount Ahead of IPO.

Peyush Bansal, Co-founder & CEO of Lenskart, is planning to buy more shares in his own company — at a valuation of $1 billion (₹8,500 Cr), just one-tenth of the $10 billion target for Lenskart’s upcoming IPO. He’s raising ₹200 Cr via loan to increase his stake from 4% to 6%, buying shares directly from existing investors like SoftBank, Chiratae, and TR Capital. This move values Lenskart at 2019 levels, despite the company being in the spotlight for a $10B IPO, expected later this year. In June 2024, investors like Temasek & Fidelity had invested at a $5 billion valuation. Why’s He Doing This? Bansal wants more “skin in the game” before the IPO — a sign of confidence in the company's long-term potential. Lenskart posted a ₹10 Cr loss in FY24 on revenues of ₹5,427 Cr, as it expanded rapidly across India, UAE, Singapore, and Japan. IPO Plans: • Target Raise: $1 billion • Expected Valuation: $10 billion • Bankers: Kotak, Axis, Citi, Morgan Stanley, Avendus Similar founder moves were made by Swiggy’s Sriharsha Majety and FirstCry’s Supam Maheshwari ahead of their IPOs. Founder buying shares at a lower valuation shows belief in future growth — and could spark fresh interest in the IPO.