'Aisa kya ghor paap kar raha Lenskart': Shankar Sharma calls IPO fair vs 50x tech listings
At a nearly 10× sales valuation, Sharma argued Lenskart is being unfairly targeted. He compared it with companies like Paytm, Nykaa, Zomato, Policybazaar, and CarTrade that went public at 25–50× revenues—despite showing significant losses
- Oct 30, 2025,
- Updated Oct 30, 2025 8:04 AM IST
Shankar Sharma has waded into the Lenskart IPO firestorm, calling out what he describes as an “organised campaign” against the company, and questioning why it’s being villainized for a valuation others once got praised for.
“I have never bought any specs—I don't wear specs—but one thing is crystal clear from my lens: there is an organised campaign against Lenskart,” Sharma posted on X, as the eyewear firm heads into a highly scrutinized ₹7,278 crore IPO.
At a nearly 10× sales valuation, Sharma argued Lenskart is being unfairly targeted. He compared it with companies like Paytm, Nykaa, Zomato, Policybazaar, and CarTrade that went public at 25–50× revenues—despite showing significant losses. “Phir aisa kya ghor paap kar raha Lenskart, bhaiya?” he asked, rhetorically.
Sharma disclosed he owns no shares in Lenskart or any “Kart,” but his post adds fire to a growing debate over CEO Peyush Bansal’s strategy. Critics have pointed to Bansal reportedly acquiring shares at ₹52 in July using a ₹200 crore loan, then setting an IPO price band of ₹382–₹402 just three months later—an 8× jump without a shift in fundamentals.
The valuation spike has drawn skepticism, especially after multiple tech IPOs in India—like Paytm and Policybazaar—crashed post-listing. Some analysts argue Lenskart’s pricing bakes in 10–20 years of growth.
Meanwhile, mutual funds like SBI MF are queuing up for the offer, raising concerns among retail investors over public money being funneled into what some call an overpriced bet.
Lenskart has defended the IPO, saying it is not a promoter exit and positions the company for global expansion. The offer opens October 31.
Shankar Sharma has waded into the Lenskart IPO firestorm, calling out what he describes as an “organised campaign” against the company, and questioning why it’s being villainized for a valuation others once got praised for.
“I have never bought any specs—I don't wear specs—but one thing is crystal clear from my lens: there is an organised campaign against Lenskart,” Sharma posted on X, as the eyewear firm heads into a highly scrutinized ₹7,278 crore IPO.
At a nearly 10× sales valuation, Sharma argued Lenskart is being unfairly targeted. He compared it with companies like Paytm, Nykaa, Zomato, Policybazaar, and CarTrade that went public at 25–50× revenues—despite showing significant losses. “Phir aisa kya ghor paap kar raha Lenskart, bhaiya?” he asked, rhetorically.
Sharma disclosed he owns no shares in Lenskart or any “Kart,” but his post adds fire to a growing debate over CEO Peyush Bansal’s strategy. Critics have pointed to Bansal reportedly acquiring shares at ₹52 in July using a ₹200 crore loan, then setting an IPO price band of ₹382–₹402 just three months later—an 8× jump without a shift in fundamentals.
The valuation spike has drawn skepticism, especially after multiple tech IPOs in India—like Paytm and Policybazaar—crashed post-listing. Some analysts argue Lenskart’s pricing bakes in 10–20 years of growth.
Meanwhile, mutual funds like SBI MF are queuing up for the offer, raising concerns among retail investors over public money being funneled into what some call an overpriced bet.
Lenskart has defended the IPO, saying it is not a promoter exit and positions the company for global expansion. The offer opens October 31.