0:00 Intro
0:44 Lenskart IPO – The Next Paytm?
4:20 Bira91 Loses Control of The Beer Café
6:56 Quick Update: Boat IPO
7:21 Quick Update: Curefoods & Milky Mist IPOs
7:30 Quick Update: Ola Electric’s 4680 Bharat Cell
8:08 Quick Update: Zetwerk’s $100M Lawsuit
8:41 Weekly Funding News
This week on Backstage with Millionaires, we’re breaking down Lenskart’s long-awaited IPO — and why its ₹70,000 crore valuation and P/E ratio of 235 have everyone comparing it to Paytm’s disastrous public debut. Is this India’s next consumer success story, or another overhyped tech IPO? We dive deep into Lenskart’s financials, insider share purchases, and the debate around its real value.
We also talk about how Bira91 lost control of The Beer Café to its own investors after a severe cash crunch — a story that shows how quickly founders can lose control when debt piles up and licenses go wrong.
Then, in our Quick Updates, we cover:
Boat cutting its IPO size to ₹1,500 crore.
Curefoods and Milky Mist receiving SEBI approval for their upcoming public issues.
Ola Electric getting ARAI certification for its in-house 4680 Bharat Cell and opening up its service network to independent garages.
Zetwerk filing a $100 million lawsuit against ex-executives and their new company Ayr Energy for alleged data theft.
Finally, in our Weekly Funding News, we highlight the $100 million raised by Indian startups this week — including Snabbit, Optimo Capital, Tsuyo Manufacturing, Openhouse, and Beyond Renewables.
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Lenskart has a solid business in Singapore. I wear lenskart from India but I was shocked to find my team mates in Singapore wearing the same glasses. But the multiple is hard to digest.
Links:
Indian Startup Funding Database: https://meadow-pillow-7fa.notion.site/BwM-Startup-Funding-Database-303101b874824f4c91fae9fc8ce6d450
This week’s funding: https://meadow-pillow-7fa.notion.site/W5-Q3-FY26-29b08566a3608066816fe451bb16ad5f
Funding over time: https://docs.google.com/spreadsheets/d/10-sWaL38VYz–CqQNMQEwsG9xRBAx3nwOLRKzRD4BkY/edit?gid=0#gid=0
Worst decision is buying during IPO, where price is decided by management not public, and specially this company, looks like just before IPO they somehow somehow show profit by using all the tricks possible. Inflating numbers and showing clients subscribers that are not there. And don't put bet on something new that have social media buzz. Because price going to inflated by management based on that too and really unclear how they decide on that price. But even if you think you are too smart then here about lenskart if I was buying it, I would carefully check who recieved their products in bulk and how far they delivered this bulk from the place of its origin. 😏🥴
Venture Capital investors exit at high valuations, investment banker bookrunners make good money on high value IPOs and in the end the general public is made to look like fools. Be careful of these new age companies who are doing IPO just because their venture capital investors want to exit their investment 😂
3:36 Will you value Elon Musk’s Starlink based on its potential to colonise Mars ? Obviously no!!! You look at current conservative estimates 😂
One correction here. Snabbit now has HQ in bengaluru.
Every week in the funding section… there's a clear pattern, that investors in India prefer to invest more in startups like quick commerce, food, fast loans, delivery apps etc., whereas startups focusing around tech, niche problems where the competition is less but requires a lot of R&D gets the least amount of fundings and then they cry about delivery business is not innovation…the whole category of investing in startups should be more regulated if India really wants to have more startups focusing on solving niche problems and spending more on R&D than just yet another gig job
I will buy Lenskart – on 15th May. Till that time it would have dropped to the lowest
Lenskart just need to say they are building AI technology and investors can even give them money on quadruple of valution
a video on groww ipo?