HSBC initiates 'Hold' on Lenskart as 7,000-store plan meets valuation ceiling
HSBC praised Lenskart's omnichannel eyewear model and aggressive 7,000-store expansion for driving customer engagement and growth, but flagged that current valuations may cap further upside, prompting a cautious 'Hold' rating.
HSBC initiated a 'Hold' on Lenskart, praising its omnichannel eyewear model and 7,000-store expansion plan for strong customer engagement and growth, but warned that current valuation may cap further upside despite the expansion push.
Why this matters
The 'Hold' rating follows Lenskart's Rs 7,278-crore IPO, which was fully subscribed on day 1, and its plan to earmark over Rs 800 crore of proceeds for retail expansion tied to the 7,000-store goal.
Retail-company signals held steady at 4,170 over the past 90 days.