HSBC's April 2026 coverage call resurfaces: Lenskart seen scaling India network from 2,500 to 7,000 stores
Resurfacing an April 2026 note, HSBC initiated coverage on Lenskart with a Hold rating and a Rs 513 target price, saying the valuation already captures much of the growth opportunity. The brokerage sees room for the eyewear retailer to expand its India store network to about 7,000 locations over the long term.
HSBC initiated Lenskart with a Hold rating and Rs 513 target, saying valuation reflects expected growth. It forecasts store expansion from about 2,500 to 7,000 in India, supported by organised-eyewear adoption, supply-chain integration, productivity gains and margin improvement.
Why this matters
The resurfaced note follows Lenskart's July move to file Sebi draft papers for a ₹2,150 crore fresh-capital IPO and a recent signal on HSBC's Hold rating despite its 7,000-store ambition.
Store-opening is steady, with 1,684 signals in the past 90 days.