Lenskart's IPO: Avendus sees more room to grow
Business
Lenskart raised ₹7,278 crore in its IPO—which was oversubscribed 28 times.
Avendus Spark just gave it an "Add" rating and says shares could climb another 10% from here.
The company brought in ₹2,150 crore in fresh funds to fuel its next phase.
What does Lenskart actually do?
Lenskart is a tech-driven eyewear brand that designs, manufactures, and sells glasses both online and in stores.
Its unique model keeps costs low and helps it reach more people.
The new funds are going into opening more stores and upgrading their tech.
Other key details
Analysts expect Lenskart's revenue to grow at a solid 21% annual rate through FY2028, with better profit margins ahead.
Out of five analysts tracking the stock, three recommend buying it.