Enterprise artificial intelligence (AI) firm Fractal Analytics has secured approval from the Securities and Exchange Board of India (Sebi) for its planned initial public offering. The offering includes a fresh issue of shares worth Rs 1,279 crore and an offer for sale valued at Rs 3,620 crore
Lenskart IPO: CEO Peyush Bansal says it was never about valuation
Eyewear giant Lenskart officially entered the stock market today, marking a major milestone for the company. At the listing ceremony, CEO Peyush Bansal addressed the buzz around the company's valuation, making it clear this was never the driving force behind the journey.
“We didn't build Lenskart to build a valuation... we did it to give eyesight to India,” said Bansal.
Speaking to ET last month, Bansal responded to discussions about Lenskart's IPO valuation being considered high for a retail business. He explained that determining valuation isn't the role of entrepreneurs.
“Valuation is a conversation between buyers and sellers,” he said. “We've been profitable for years, generate strong cash flows, and most of our fundraises have been secondaries. So, pricing isn't something I focus on.”
Bansal added that his focus lies in working with investors who share Lenskart's long-term vision, and credited them for much of the company's progress.
“...every partner we've had pushed us to think bigger and longer term. That's far more important than any single valuation number,” he noted.
Lenskart's initial public offering (IPO) opened on October 31 and closed on November 4. Investor enthusiasm was high, with total bids reaching 28.26 times the number of shares on offer. It was driven mainly by qualified institutional buyers (QIBs) and non-institutional investors (NIIs).
Source: EconomicTimes
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Enterprise artificial intelligence (AI) firm Fractal Analytics has secured approval from the Securities and Exchange Board of India (Sebi) for its planned initial public offering. The offering includes a fresh issue of shares worth Rs 1,279 crore and an offer for sale valued at Rs 3,620 crore
3 months ago
