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LensKart Ltd.’s public offering commenced on Friday and will conclude next Tuesday, generating considerable investor interest. However, the company faced challenges as its grey market premium experienced a significant decline recently, primarily driven by concerns over its valuation. With an estimated valuation of Rs 70,000 crore, LensKart’s IPO has raised questions among financial analysts regarding its sustainability and market positioning. Despite the optimism around LensKart’s IPO, it is important to acknowledge the risks outlined in the company’s red herring prospectus. LensKart heavily relies on raw materials sourced from China, a strategic decision that has significant cost implications for its operations….
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