Mumbai, Oct. 17 -- Lenskart founder Peyush Bansal is inching close to earning the billionaire badge as the company is targeting stock market entry with an IPO next month, media reports said.

The IPO will value the eyewear company at $9 billion, depending on the IPO size, Bloomberg reported, citing people familiar with the matter and calculations from the prospectus.

The valuation of the company would take his stake close to $800 million after selling a small portion of his shares in the IPO.

His stock value could exceed $1 billion if Lenskart shares swell about 25 percent on opening.

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