Early Lenskart investor Ronnie Screwvala mounted a strong defence of the company's IPO pricing, asserting that co-founder and CEO Peyush Bansal set the offer at around 20% below what he considered the company’s actual value.

Screwvala, a serial entrepreneur and an early backer of Lenskart, spoke to Moneycontrol ahead of the eyewear retailer’s market debut. He also drew a comparison with Tata-owned Titan EyePlus, stating that while it had been in the market for “years”, it didn’t expand the market the way Lenskart did.

“Peyush has been stoic from the beginning that I want to price it with at least 20% discount to what it could be,” he said.

Why is Lenskart IPO in the news?

Lenskart, which lists next week, has been in the eye of the storm in recent weeks over its targeted IPO valuation o

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