Lenskart IPO: ‘Overpriced’ or ‘Long-Term Buy’? 6 Market Gurus weigh in

By Admin

08 Nov, 2025

The much-anticipated Lenskart IPO has stirred strong opinions among market experts, dividing investors on whether it’s a case of excessive optimism or a genuine long-term opportunity. As the eyewear giant prepares for its ₹7,278.76 crore listing, analysts remain split over its steep valuation and future growth potential.

A Valuation That Raises Eyebrows
India’s IPO market has been buzzing with high-priced offerings, and Lenskart is no exception. Based on trailing numbers, the company’s price-to-earnings ratio exceeds 230 times, translating to more than 10 times its sales a red flag for many observers. With such lofty pricing, investors are questioning whether the stock will deliver a listing-day pop or sink below its issue price.

Vijay Kedia: “No Position Is Also a Position”
Veteran investor Vijay Kedia finds Lenskart’s valuation too expensive to justify an entry. He stated, “Lenskart’s valuations look quite expensive to me, and I’m not a buyer at any price. If I don’t buy and the price goes up, I’ll miss making money but I’m okay with that. I prefer to stay away from money that comes with high risk.”

Sandip Sabharwal: “True Value at 25% of Offer Price”
Noted fund manager Sandip Sabharwal believes the stock’s fair value should be around one-fourth of its offer price. He expects the stock to eventually settle there, though the timing of such a correction remains uncertain.

Ambareesh Baliga: “Overpriced and Overhyped”
Market expert Ambareesh Baliga echoed similar concerns, saying, “Lenskart is overpriced and overhyped. It might open at a premium due to reputation risk, but sustaining that level could be difficult. If it lists at a discount, panic selling is possible.” He added that the stock remains expensive from an investment perspective until profits improve.

Deven Choksey: “Big Listing Premium Unlikely”
Deven Choksey, MD of DRChoksey FinServ, ruled out a major listing premium. “If it sustains the issue price, that itself would be an achievement. Future price rise depends on sustainable profit growth. The valuation is already excessive considering the company has shown profit for only one year.”

Sunny Agrawal: “Profitability Is the Key”
Sunny Agrawal, Head of Fundamental Research at SBI Securities, highlighted the company’s strong business model but stressed that everything depends on profitability. “If Lenskart can consistently improve profits, it can create long-term value. For now, valuations seem to be discounting the next two-year story.”

Kavita Vempalli: “Short-Term Pressure, Long-Term Opportunity”
Kavita Vempalli of Nirmal Bang Retail Research expects a 5–7% marginal listing gain given the current IPO congestion. She remains optimistic about the company’s omnichannel growth strategy, expansion plans, and manufacturing facilities, suggesting that long-term investors could use near-term weakness to accumulate shares.

Analysts Divided, All Eyes on November 10
The Lenskart IPO, subscribed 28.27 times, has clearly captured market attention. While short-term uncertainty looms due to its premium valuation, experts agree that the company’s profit consistency in the coming quarters will determine whether it justifies its steep pricing or becomes a cautionary tale for IPO investors.

As listing day approaches on November 10, the market waits to see whether Lenskart will deliver a surprise or a shock defining its place in India’s fast-changing IPO landscape.