India, Oct. 27 -- Lenskart Solutions Pvt. Ltd. is seeking a valuation of up to $8 billion in an IPO that will potentially make its co-founder Peyush Bansal a billionaire.

India's largest organised eyewear retailer will issue shares in a price band of Rs.382-402 apiece to raise as much as Rs.7,278 crore, as per the updated red-herring prospectus released on Monday. The IPO includes new shares worth Rs.2,150 crore as well as an offer-for-sale of 12.76 crore shares by promoters.

That pegs the firm's valuation at Rs.69,500 crore (about $7.91 billion).

The IPO proceeds will be used for expansion-either organic (new stores) or inorganic (M&A deals)-as well as on technology, marketing and general corporate purposes.

The Lenskart IPO will be ...