Lenskart’s ₹7,278 crore IPO has left investors wondering if it will boom or bust on listing day. Top market veterans reveal their expectations, valuation concerns, and long-term outlook.

 

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The IPO Storm and Lenskart’s Bold Entry

The current IPO wave in India isn’t just huge — it’s hectic. With multiple companies rushing to Dalal Street, Lenskart’s ₹7,278.76 crore issue has grabbed all the spotlight. But what’s making headlines isn’t the scale — it’s the valuation.

With a price-to-earnings ratio of 230x and a sales multiple over 10x, investors are questioning if the eyewear giant can justify its massive tag or if it’s another overhyped listing.

Veteran Voices: What Market Experts Are Saying

Let’s decode what top investors and market analysts think about the Lenskart IPO listing prospects.

1. Vijay Kedia – “No position is also a position”

Celebrated investor Vijay Kedia believes the stock is too expensive to touch.

“Lenskart’s valuations look quite expensive to me. I prefer to stay away from money that comes with high risk,” he said, adding that sometimes not investing is the best decision.

This cautious stance echoes the sentiment of many investors wary of high-growth but overvalued startups.

👉 Related read: 🔗 “Why IPO Valuations Matter More Than You Think”

2. Sandip Sabharwal – “Worth only 25% of its offer price”

Veteran fund manager Sandip Sabharwal from Asksandipsabharwal.com took an even sharper tone, stating that the true value of Lenskart shares might be just 25% of the offer price.
He predicts that the stock will eventually settle lower, though the timing remains uncertain.

3. Ambareesh Baliga – “Overpriced and overhyped”

Market veteran Ambareesh Baliga warned of possible panic selling post-listing.

“It could open at a premium due to reputation risk, but sustaining it will be difficult,” he said.
Baliga emphasized that the stock remains expensive in terms of investment perspective.

4.  Deven Choksey – “Big premium unlikely”

According to Deven Choksey, MD of DRChoksey FinServ, investors shouldn’t expect fireworks on listing day.
He said that simply maintaining the issue price would be a “good achievement”, given the limited profit history.
Lenskart’s valuation, he added, is “excessive at current levels.”

5. Sunny Agrawal – “Focus on profitability”

Sunny Agrawal, Head of Fundamental Research at SBI Securities, struck a balanced note.
He feels the next two years will be crucial for Lenskart to prove consistent profitability.

“Everything is a function of profitability. If they can sustain growth and earnings, the long-term story remains strong,” he noted.

6. Kavita Vempalli – “Flat to marginal gain expected”

From Nirmal Bang Retail Research, Kavita Vempalli expects a 5–7% listing gain at best due to “IPO congestion” and high valuations.
However, she believes long-term investors could find value as the brand expands via its omnichannel strategy and centralized manufacturing.

Lenskart’s Challenge: Price vs. Profit

Despite being a household name in eyewear, Lenskart’s premium valuation raises eyebrows. The company has turned profitable only recently, and its ability to maintain that profit momentum will determine whether it becomes the next Titan—or just another overhyped tech listing.

The Lenskart IPO was subscribed 28.27 times, showing strong interest, but analysts agree the real test begins post-listing.

Listing Day Watch: November 10

All eyes are now on November 10, when the stock debuts on the exchanges. Will it deliver a surprise pop, or a sharp correction?

If you’re planning to invest post-listing, track the performance closely and avoid chasing hype. Focus on fundamentals, earnings visibility, and long-term sustainability.

Conclusion: High Risk, High Vision

Lenskart’s story is undoubtedly inspiring — from startup to eyewear powerhouse. But as market veterans warn, vision alone doesn’t guarantee value. Investors must see beyond the brand and into the balance sheet.

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External Link:
For detailed financial insights and subscription data, visit Financial Express’ full report on Lenskart IPO