Peyush Bansal Plans Lenskart Mega Factory Near Bengaluru Airport, Karnataka Minister Backs Him
Not just one of the most favourite sharks of Shark Tank, Lenskart CEO Peyush Bansal is an entrepreneur who inspires many. His journey to success is something that many of his followers look up to. Apart from judging the show, he is now on a quest to expand his eyewear business.
Not just one of the most favourite sharks of Shark Tank, Lenskart CEO Peyush Bansal is an entrepreneur who inspires many. His journey to success is something that many of his followers look up to. Apart from judging the show, he is now on a quest to expand his eyewear business.
Recently, he took to his LinkedIn account where he expressed his wish to acquire land near Bengaluru airport to set up Lenskart¡¯s mega factory.
Lenskart
In his post, Bhansal conveyed his company's aspirations for further growth, revealing intentions to build a large-scale factory in Bengaluru. However, the success of this project depends on procuring 25 acres of land, leading Bhansal to reach out to any party selling such a parcel near Bengaluru to contact them directly.
The preferred location for the mega factory is within a 60-kilometer radius of Bangalore's Kempegowda International Airport.
Soon after, Karnataka's Commerce and Industries and Infrastructure Minister MB Patil responded to him via X, extending the government's support for Lenskart.
Patil ensured that relevant officials would connect with Bhansal to support the initiative.
Karnataka is the place to be! @peyushbansal @Lenskart_com Industries Department is here to support you, and facilitate all your needs.
— M B Patil (@MBPatil) April 9, 2024
Concerned officials will reach out, immediately. pic.twitter.com/9KTikkx8GJ
Lenskart To Go Public Soon?
As per rumours doing the rounds, Bansal is planning to launch Lenskart¡¯s IPO sooner rather than later.
Navneet Govil, Managing Partner and CFO of SoftBank Vision Fund, suggested in a recent interview that Lenskart, backed by SoftBank, is gearing up for an IPO. While Peyush Bansal, Lenskart's CEO, has previously mentioned the potential of an IPO, he emphasized that the company is preparing for the move without rushing to make a final decision.
Peyush Bansal¡¯s Stake In Lenskart
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Bansal reportedly owns 8.21% equity in the company, which is valued at a whopping Rs 32,000 crore!
About Lenskart
Founded in 2008, Lenskart offers a diverse range of eyewear products including eyeglasses, sunglasses, contact lenses, and vision care services. The company operates 1,500 omnichannel stores, catering to customers in 175 cities across India, Singapore, and Dubai. With a goal to serve 1 billion eyes worldwide by 2025, Lenskart is actively expanding its footprint in the eyewear industry.
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