Lenskart IPO: Why the market thinks it’s overvalued and why everyone’s talking about it

Lenskart’s ₹7,278 crore IPO has been oversubscribed nearly 30 times, but behind the hype, analysts and investors are asking tough questions. Why is the valuation being called “stretched”? Are we seeing a repeat of the Paytm, Zomato, and Nykaa story, when sky-high startup valuations ended in a crash?