Veteran investor Shankar Sharma said he has no interest in the Lenskart IPO. Speaking to NDTV Profit, he added that he has never met Lenskart founder Peyush Bansal and avoids investing in Indian tech IPOs.
Sharma, founder of GQuant Investech and an early investor in Amazon and Apple, said Lenskart plans to list at about 10 times its revenue. He believes the valuation is high but more reasonable than past tech IPOs that came at 25x to 50x.
Still, Sharma criticised India’s IPO market, calling it “the dumbest in history.” He accused merchant bankers of exploiting retail investors and said large institutional investors fuel the hype around overpriced startups.
Lenskart’s valuation of ₹70,000 crore has drawn attention for its price-to-sales ratio above 10x and a P/E ratio of 230x. Many investors worry it’s too expensive.
Earlier on X, Sharma mocked online criticism of Lenskart’s pricing, saying it looked like an “organised campaign.” Market watchers also questioned Lenskart’s response, which simply claimed the company aims to “create value for the customer.”
