Lenskart CEO seeks 25 acres of land near Bengaluru airport, posts on LinkedIn; Minister MB Patil responds

Peyush Bansal, CEO of Lenskart, seeks 25 acres of land near Bengaluru for a mega factory, supported by Karnataka's Commerce Minister. Rumours swirl about Lenskart's IPO plans, hinted by SoftBank Vision Fund's CFO Navneet Govil. Lenskart, founded in 2008, aims to serve 1 billion eyes globally by 2025, with 1,500 stores in 175 cities.

Vinaykumar Patil

First Published Apr 10, 2024, 11:21 AM IST | Last Updated Apr 10, 2024, 11:19 AM IST

Peyush Bansal, the CEO and founder of Lenskart, a leading eyewear retailer brand in the country, has taken to his LinkedIn profile with a special appeal. In his message, Bhansal expressed his company's ambition to expand further, announcing plans to establish a mega factory in Bengaluru. However, the endeavour hinges on acquiring 25 acres of land, prompting Bhansal to call upon any company or individual selling such a parcel near Bengaluru to get in touch directly.

The desired location for the mega factory is within a 60-kilometer radius of Bangalore's Kempegowda International Airport, as specified by Lenskart. Alongside Bansal's plea, Karnataka's Commerce and Industries and Infrastructure Minister MB Patil swiftly responded via Twitter, affirming the government's support for Lenskart. Patil assured that concerned officials would promptly engage with Bhansal to facilitate the venture.

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Amidst these developments, rumours swirl regarding Lenskart's imminent entry into the stock market. Navneet Govil, Managing Partner and Chief Financial Officer of SoftBank Vision Fund, Lenskart's backer, hinted at the company's preparations for an initial public offering (IPO) in a recent interview. Bhansal had previously hinted at the possibility of an IPO, stressing that while Lenskart is gearing up for such a move, there's no rush to finalize the decision.

Established in 2008, Lenskart boasts a wide array of offerings, spanning eyewear, eyeglasses, sunglasses, contact lenses, and vision care services. The company's reach extends across 1,500 omnichannel stores, serving customers in 175 cities across India, Singapore, and Dubai. With an ambitious goal of catering to 1 billion eyes globally by 2025, Lenskart continues to solidify its presence in the eyewear industry.

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