‘Shark Tank India’ Judge’s Eyewear Firm Lenskart Seesaws in Trading Debut

Core Insights - Lenskart Solutions Ltd., backed by SoftBank Group Corp., raised 72.8 billion rupees ($821 million) in its IPO, leading to discussions about high valuations in the Indian startup ecosystem [1][2] - The stock experienced volatility on its debut, initially dropping by 12% before closing up 0.3% [1] - The IPO was oversubscribed by 28 times, primarily driven by institutional investors, but the valuation at 238 times last fiscal year's earnings raised concerns [2][3] Company Performance - Lenskart's shares fluctuated significantly on the first trading day, indicating market uncertainty regarding its valuation [1] - The company's market value post-IPO is approximately 700 billion rupees, surpassing established consumer brands like Colgate-Palmolive India Ltd. and United Breweries Ltd. [4] Market Context - The IPO reflects India's growing status as a global fundraising hub, with nearly $17 billion raised in 2025 from Indian debuts [3] - Upcoming IPOs in India include Billionbrains Garage Ventures Ltd. and Pine Labs Ltd., indicating continued investor interest in the market [4] Investor Sentiment - Despite the strong business fundamentals, some analysts, including Ambit Capital, have issued sell recommendations due to high valuations [2][3] - DSP Asset Managers publicly defended its investment in Lenskart, acknowledging the company's scalability while recognizing the deal's expense [3][5]