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.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets