Lenskart Share Surge Makes Peyush Bansal India's Newest Billionaire

Bansal Joins Billionaire Club

Peyush Bansal, Lenskart Solutions co-founder, joined India's billionaire ranks. Forbes estimated his net worth at $1 billion. This follows a significant rise in Lenskart's share price. The eyewear retailer's shares hit nearly 627 rupees ($6.55) on the National Stock Exchange last week. This marked an all-time high.

Bansal holds a nearly 9% stake in the $11 billion market-capitalisation company. Proceeds from his initial public offering (IPO) share sales also contributed.

Strong Quarterly Performance Drives Stock

Lenskart's stock jumped after strong financial results. Net profit quadrupled to 2.28 billion rupees ($24 million) for the quarter ending June 30. Sales surged across both domestic and international markets, Reuters reported. The SoftBank-backed company went public nine months ago. Its November 2025 IPO raised $821 million, oversubscribed 28 times. The stock initially listed at a 3% discount to its issue price.

Hybrid Retail Model Expands Footprint

Lenskart, based in Faridabad, sells eyewear online and in stores. It operates in 16 countries, including Singapore, Japan, and the UAE. In India, Lenskart maintains 2,725 stores across 157 cities. The company added 132 new stores last quarter. This brought its total to 3,459 locations. Bansal, 42, co-founded the business in 2010.

Initially, Lenskart offered online 3D try-on features. It expanded to physical stores in 2013, starting in New Delhi. Arvind Singhal of The Knowledge Company noted physical stores' importance for eyewear purchases, Forbes quoted.

Investor Interest in India's Retail Sector

Japan's SoftBank first invested in Lenskart in December 2019. This $275 million funding round made Lenskart a unicorn [a privately held startup company valued over $1 billion]. SoftBank remains the largest shareholder, holding nearly a 10% stake. It sold a small stake during the IPO. A larger 3.25% stake sold for $300 million in June, after the six-month lock-in.

Lenskart's success demonstrates strong investor interest in India's organised retail. The hybrid online-to-offline model shows effectiveness in fragmented markets. Asian investors may observe this strategy for other consumer segments across the region.