By Admin 
Lenskart IPO: If a person has hard work, ability and honesty, then no one can stop him from moving forward. Piyush Bansal, founder of eyewear retail chain Lenskart, is a living proof of this. About 15 years ago, I started the journey of Lenskart with some of my friends whom I met on LinkedIn and today it is a billion dollar company. Lenskart is preparing to be listed in the stock market early next month.
Piyush got a profit of 80 crore dollars!
The company is about to bring its IPO, the possible valuation of which is said to be $9 billion. According to Bloomberg Billionaires Index, Piyush can earn a profit of about $ 800 million by selling a small part of his shares in the IPO. In such a situation, if the shares are listed at a premium of 25 percent, then their net worth can reach up to $ 1 billion (about Rs 90 billion). With this, he will also get a chance to join the list of billionaires around the world. In the coming days, the company is planning to invest in AI as well as technology and stores.
Investors’ confidence returned to startups
There came a time when many big startups of the country were facing a struggle to survive and were facing difficulties in getting funding. The success achieved by Piyush during that period has restored the confidence of investors in Indian startups. Lenskart created its own identity in India through robotic production technology. For this he imported machines from Germany. A separate website was also created so that customers could order online.
How did the idea of Lenskart come about?
Bansal at one time felt that there was a shortage of good quality premium eyeglasses in the Indian markets. Their price is either very high or they are not easily available. With this thought in mind, in 2010, he along with some of his colleagues whom he met on LinkedIn, laid the foundation of Lenskart. Initially it was started as an online platform. Later, gradually adding variety to the product range, spectacles, sunglasses and contact lenses were also included in the portfolio at affordable prices.
IPO got approval from SEBI
In its initial documents submitted for the IPO in June, the company had said that new shares worth Rs 2150 crore (about $ 250 million) would be issued under the IPO. Apart from this, shares will also be sold under the offer-for-sale window. Meanwhile, the company also got approval from SEBI to launch an IPO. The size of the IPO will be between Rs 7,500-8,000 crore. It is being told that through the IPO, Piyush Bansal, Neha Bansal, Sumit Kapahi and Amit Chaudhary along with SoftBank, Premji Invest, Temasek, Kedar Capital and Alpha Wave Global will sell their respective shares. The company has appointed Kotak Mahindra, Morgan Stanley, Citi, Avendus Capital and Intensive Fiscal Services as merchant bankers for this issue.
Also read:
Don’t say anything if it is out of stock… People are buying gold indiscriminately amid skyrocketing prices, truth revealed