ET Startup Awards 2025: A platform for startup discourse
The ET Startup Awards 2025 brought together founders, investors, and industry experts to celebrate innovation while sparking robust conversations about growth, governance, and market expectations. Among the many speakers, Lenskart founder and chief executive Peyush Bansal stood out with remarks that reframed criticism as a potentially constructive force rather than a purely negative phenomenon. His comments addressed the buzz around Lenskart’s proposed IPO valuation and the broader implications for early-stage and growth-stage startups in India.
Rethinking criticism in the era of hot IPO chatter
Public scrutiny of a startup’s valuation is a natural byproduct of high visibility and investor excitement. In recent years, social media has amplified every move, from revenue milestones to valuation estimates, sometimes creating a chorus of dissent. Bansal’s perspective at the awards emphasized that criticism can illuminate overlooked risks, prompt sharper operational discipline, and help teams prepare for the realities of public markets. This shift—from seeing critique as noise to treating it as a diagnostic tool—resonates with many founders who navigate the choppy waters of scaling and fundraising.
What the Lenskart IPO chatter reveals about market expectations
Lenskart’s rumored IPO valuation, cited as Rs 70,000 crore in some discussions, became a focal point for conversations about how high growth startups translate private valuations into public market expectations. Critics argued that such numbers must be grounded in sustainable revenue streams, margin profiles, and growth trajectories. Proponents, however, viewed the valuation as a reflection of brand strength, customer loyalty, and a scalable business model in eyewear retail and omnichannel experiences. Bansal’s response underscored a nuanced view: while sensational figures grab attention, the core task for leadership is to align the business’s long-term plan with pragmatic milestones that can support a credible IPO narrative.
Leadership lessons from a startup veteran
Beyond the headline figures, the exchange highlighted several leadership takeaways for founders and corporate leaders. First, staying open to criticism can help refine product-market fit and pricing strategies. Second, maintaining transparency with stakeholders—employees, customers, and potential investors—builds trust even when public forecasts diverge from private expectations. Finally, the episode spotlighted the importance of governance and disciplined execution as a company grows from startup agility toward the governance rigor that public markets demand.
Implications for the Indian startup ecosystem
The dialogue at the ET Startup Awards 2025 reflects a maturing ecosystem where founders increasingly accept criticism as part of stakeholder dialogue rather than as an obstacle. Investors are reinforcing the idea that valuations should be anchored in sustainable economics, while founders are pushing for greater clarity around business models and path-to-profitable-growth. As more Indian startups prepare for exits and public listings, the ability to translate ambitious valuation chatter into credible, executable plans will be a differentiator for those who endure market cycles and emerge stronger.
Bottom line: Criticism as a catalyst, not a verdict
Peyush Bansal’s comments at the ET Startup Awards 2025 remind us that criticism isn’t inherently destructive. When harnessed constructively, it can sharpen strategy, encourage better risk management, and ultimately drive the premium a company wants from public markets. For Lenskart and other high-growth startups, the challenge remains: convert public scrutiny into tangible progress that sustains long-term value for customers, employees, and shareholders alike.
