Lenskart IPO Tests India's Startup Valuations

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00:00You may not have heard of it, but Lenskart is among India's biggest eyewear makers and one of the country's most successful startups.

00:08Founded by entrepreneur and shark tank India judge Piyush Bansal, the company is expanding fast across Asia and the Middle East.

00:16It's even making its own smart glasses.

00:19Every customer we serve is our IPO. Because an IPO for us is not just about markets, it's about building trust.

00:26Its 821 million public offering sold out within hours.

00:31But when the stock finally hit the market, it didn't soar.

00:34It dropped as much as 12% at the start and then recovered.

00:38And it's that kind of performance that's amplifying concerns about how highly some of India's startups are being valued.

00:45It's a familiar story.

00:47Big names like Zomato and Paytm drew a huge bust when they listed in 2021.

00:51But many Indian tech IPOs have since struggled to hold their value.

00:56Lenskart's muted debut may dampen sentiment towards upcoming offerings, underscoring investors' growing caution over valuations.

01:04For India's upcoming fintech players looking to go public, the message is clear.

01:09The market wants realistic pricing and investors are more selective on which deals to pile into.

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01:24You don't have a free online caring for us to go public, be disappointed with us.

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01:41We want highfalse Mikey to stop you in 20 months.