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Key Points

Lenskart’s IPO filing reveals co-founder Sumeet Kapahi’s missing degree and marksheets from Delhi University. Kapahi has requested duplicates but hasn’t received a response yet. The IPO includes a fresh issue of Rs 2,150 crore and an OFS of 13.2 crore shares. Lenskart’s public listing was approved at its AGM on July 26.

Key Points: Lenskart IPO Reveals Missing Degree of Co-founder Sumeet Kapahi

  • Lenskart’s DRHP flags missing degree of co-founder Sumeet Kapahi
  • Kapahi unable to trace B.Com (Hons.) documents from Delhi University
  • IPO includes fresh issue of Rs 2,150 crore and OFS of 13.2 crore shares
  • Lenskart co-founded by Peyush Bansal, Amit Choudhary, and Kapahi
2 min read

Lenskart IPO: Promoter Sumeet Kapahi's degree, marksheets missing, shows DRHP

Lenskart’s DRHP discloses co-founder Sumeet Kapahi’s missing degree and marksheets from Delhi University, raising concerns ahead of IPO.

"There is no certainty the university will respond to his requests in a timely manner — or at all. — Lenskart DRHP"

Mumbai, July 29

As eyewear retailer Lenskart took its first step towards going public by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), one unusual disclosure stood out as the company revealed that the degree certificate and marksheets of one of its promoters, Sumeet Kapahi, are not traceable.

Kapahi, who is the Global Head of Sourcing at Lenskart and one of its co-founders, was mentioned in the risk factors section of the DRHP.

According to the DRHP paper, he has been unable to locate his B.Com (Hons.) degree and marksheets from the University of Delhi.

The document states that Kapahi has written several emails and a letter to the university requesting copies of his degree certificate and has also applied for the marksheets through the university’s online portal.

However, he has not yet received any response. The DRHP notes that there is no certainty the university will respond to his requests in a timely manner -- or at all.

Lenskart added that there is no assurance Kapahi will be able to retrieve the relevant documents relating to his educational qualifications in the future.

According to the company’s website, Sumeet Kapahi co-founded Lenskart along with Peyush Bansal, Amit Choudhary, Neha Bansal, and Ramneek Khurana.

He was the third person to join hands with Bansal and Choudhary and has extensive experience working with global eyewear brands.

The Lenskart IPO will be managed by a group of leading financial institutions, including Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services.

According to the DRHP paper, the IPO will include a fresh issue of Rs 2,150 crore and an offer-for-sale (OFS) of 13.2 crore shares by investors and promoters.

The proposal for the public listing was approved at Lenskart’s annual general meeting on July 26.

- IANS

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Reader Comments

S
Shreya B
Honestly, does it really matter? The man has built a successful business that's changing how India buys eyewear. Our education system focuses too much on certificates rather than actual skills. Lenskart's growth speaks louder than any degree!
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Aman W
Typical Delhi University bureaucracy! I had to wait 6 months for my marksheet correction. The system needs urgent reform. Meanwhile, kudos to Lenskart for being transparent about this in their DRHP.
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Priya S
As an investor, I'm more concerned about the company's financials and growth potential than a founder's lost degree. Lenskart has revolutionized eyewear retail in India - that's what matters for the IPO.
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Nikhil C
While I appreciate the transparency, this does raise governance questions. If they can't keep track of important personal documents, how do they manage company records? Hope SEBI looks into this properly.
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Kavya N
My brother faced similar issues with Mumbai University. Our education system's record-keeping is pathetic! But let's not judge Mr. Kapahi - his work at Lenskart shows his capabilities better than any marksheet ever could. 💯

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