Lenskart IPO Filing Flags Co-founder’s Missing Degree Certificate In Unusual Disclosure; Details Inside
Kapahi, who serves as Lenskart’s Global Head of Sourcing and is one of the company’s co-founders, was referenced in the “risk factors” section of the DRHP
As Lenskart gears up for its public debut, an unusual detail in the company’s Draft Red Herring Prospectus (DRHP) has sparked curiosity. Among the standard disclosures and risk factors filed with the Securities and Exchange Board of India (SEBI), the eyewear retailer revealed that one of its promoters, Sumeet Kapahi, is currently unable to locate his degree certificate and academic transcripts.
Kapahi, who serves as Lenskart’s Global Head of Sourcing and is one of the company’s co-founders, was referenced in the “risk factors” section of the DRHP. The company disclosed that Kapahi has been unable to trace his Bachelor of Commerce (Honours) degree and marksheets from the University of Delhi.
Attempts Made To Recover Lost Academic Records
The DRHP notes that Kapahi has reached out to the university multiple times in an attempt to retrieve the lost documents. His efforts have included sending several emails and a formal letter, along with submitting a request through the university’s online application system for duplicate certificates and marksheets.
Despite these attempts, no response has been received from the university thus far. The document adds a cautionary note: there is no guarantee that the university will respond promptly — or at all — and the likelihood of recovering the academic credentials remains uncertain.
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Founder's Background And IPO Details
According to Lenskart’s official website, Sumeet Kapahi joined founders Peyush Bansal and Amit Choudhary early on in the company’s journey. He has brought with him considerable experience in the eyewear industry, having worked with leading global brands prior to co-founding Lenskart.
The IPO will be led by a consortium of major financial institutions, including Kotak Mahindra Capital, Morgan Stanley India, Avendus Capital, Citigroup Global Markets India, Axis Capital, and Intensive Fiscal Services. The offering will consist of a fresh issue worth Rs 2,150 crore, alongside an offer-for-sale (OFS) comprising 13.2 crore shares from existing promoters and investors.
Lenskart’s proposal for a public listing was officially approved during its annual general meeting held on July 26. The IPO is seen as a significant milestone for one of India’s most prominent direct-to-consumer brands.
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