16% cut from IPO price? Lenskart gets a ‘Sell’ from Ambit just before listing

Eyewear retailer Lenskart has received a “Sell” rating from Ambit Capital ahead of its IPO listing, with a target price of Rs 337—16% below the issue price of Rs 402. Ambit cited stretched valuations despite strong growth prospects, cautioning that free cash flows may remain negative until FY28 due to heavy capex plans.

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