Lenskart’s Peyush Bansal seeks ₹200 crore loan to buy shares at $1 bn valuation before IPO

Peyush Bansal, co-founder and CEO of Indian eyewear retailer Lenskart, is in discussions to raise a ₹200 crore loan to increase his stake in the company ahead of its planned initial public offering, Moneycontrol reported on Wednesday, citing people familiar with the matter. According to the report, Bansal is negotiating to buy shares from existing investors such as SoftBank, Chiratae Ventures, and TR Capital at a valuation of around $1 billion, one-tenth of the $10 billion valuation Lenskart is targeting for its upcoming IPO later this year.
Bansal currently holds about 4% in Lenskart and is looking to raise his stake by another 2 percentage points to reach 6%, Moneycontrol said.