Lenskart IPO, Nov. 1 -- Eyewear retailer Lenskart Solutions' Rs.7,278 crore IPO, which opened and sailed through on Friday, has been buzzing in financial circles and on social media for seeking as much as Rs.70,000 crore in valuations.

Shark Tank judge Peyush Bansal-led Lenskart IPO is priced in the range of Rs.382 to Rs.402 per share, which values the company at Rs.69,742 crore. The IPO is a mix of fresh share sale of Rs.2,150 crore and an offer for sale of 127.6 million shares.

At Rs.402 per share, the valuation implies a steep 260x earnings multiple, which is steep for a company that turned profitable just a year ago, and most of its profits are powered by accounting changes. This also makes Lenskart one of the most expensive listing...