At a fireside chat during The ET Startup Awards, Lenskart cofounder and CEO Peyush Bansal spoke to ET’s Samidha Sharma about the eyewear retailer’s upcoming transition into a publicly listed company following its Rs 7,300 crore IPO, social media criticism about its valuation and the pressures of public markets. Edited excerpts:
You were here last year as the Startup of the Year winner and this year you’re going public. How has it been?
It feels like a full-circle moment. Last year we were celebrating the story; today, we’re taking it to the world. An IPO is an important milestone in any company’s journey, but it still feels like day one. There’s much more to do.
There’s been a lot of social media chatter around your valuation being steep. How did you process that?
Backlash means people care. As a consumer brand, we’ve received immense love, so criticism is part of the journey. It’s also a learning experience and coming early on is a blessing in disguise. I see it positively. This is what being a public company is about. As entrepreneurs, our job is to keep working hard and create value for employees and shareholders.
Also Read: ET Startup Awards 2025: Maturing startups celebrate being the stock of the town
How do you train yourself to handle criticism?
Shark Tank has given me some training for public scrutiny. Criticism isn’t always negative; it can be constructive. When I started the company, it was called Enable India, and people mocked the name. But I learned to read between the lines and stay on course. You must develop your own view. I still remember my manager at Microsoft telling me in a review that the only positive thing she could note was that I take criticism well.
Your anchor book drew strong foreign interest. What are global investors saying about India’s tech story?
I’m humbled by the faith shown by Indian mutual funds, FIIs, retail investors and our own employees. We are far from the finish line. For us, the IPO is a pit stop, not the destination. Indian companies have tremendous potential, and with AI coming in, a whole new journey begins.
Some say Lenskart is more a retail firm than a tech one. How do you see it?
We’re a consumer company first. Our goal is to create enthusiastic, delighted customers. Technology and AI are just tools to achieve that.
Also Read: ET Startup Awards 2025: Piyush Goyal on trade deals, domestic capital pool, AI and more
Are you anticipating pressure on profitability or catching up with your valuation and the expectations of stakeholders?
When I asked Abhiraj Singh Bhal of Urban Company how it feels post-IPO, he said everything is the same, you just keep working. The real pressure is moral and aspirational. I’m always a little discontent, and that’s what keeps us going.
You were here last year as the Startup of the Year winner and this year you’re going public. How has it been?
It feels like a full-circle moment. Last year we were celebrating the story; today, we’re taking it to the world. An IPO is an important milestone in any company’s journey, but it still feels like day one. There’s much more to do.
There’s been a lot of social media chatter around your valuation being steep. How did you process that?
Backlash means people care. As a consumer brand, we’ve received immense love, so criticism is part of the journey. It’s also a learning experience and coming early on is a blessing in disguise. I see it positively. This is what being a public company is about. As entrepreneurs, our job is to keep working hard and create value for employees and shareholders.
Also Read: ET Startup Awards 2025: Maturing startups celebrate being the stock of the town
How do you train yourself to handle criticism?
Shark Tank has given me some training for public scrutiny. Criticism isn’t always negative; it can be constructive. When I started the company, it was called Enable India, and people mocked the name. But I learned to read between the lines and stay on course. You must develop your own view. I still remember my manager at Microsoft telling me in a review that the only positive thing she could note was that I take criticism well.
Your anchor book drew strong foreign interest. What are global investors saying about India’s tech story?
I’m humbled by the faith shown by Indian mutual funds, FIIs, retail investors and our own employees. We are far from the finish line. For us, the IPO is a pit stop, not the destination. Indian companies have tremendous potential, and with AI coming in, a whole new journey begins.
Some say Lenskart is more a retail firm than a tech one. How do you see it?
We’re a consumer company first. Our goal is to create enthusiastic, delighted customers. Technology and AI are just tools to achieve that.
Also Read: ET Startup Awards 2025: Piyush Goyal on trade deals, domestic capital pool, AI and more
Are you anticipating pressure on profitability or catching up with your valuation and the expectations of stakeholders?
When I asked Abhiraj Singh Bhal of Urban Company how it feels post-IPO, he said everything is the same, you just keep working. The real pressure is moral and aspirational. I’m always a little discontent, and that’s what keeps us going.
