Lenskart IPO: Promoter's Missing College Degree Revealed in DRHP

While Lenskart filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), one particular disclosure raised eyebrows. The company said that the degree certificate and marksheets of one of its promoters, Sumeet Kapahi, are not traceable.

As per the details in the DRHP, Sumeet Kapahi, who is the Global Head of Sourcing at Lenskart is unable to trace the copies of his B.Com (Hons.) degree and marksheets from the University of Delhi.

“While he has written multiple emails and a letter to the concerned university requesting for a copy of his degree certificate, and has applied for copies of the marksheets on the portal of the university on its website as well, a response from the university is awaited. There is no assurance that the university will respond to such emails and letters in a timely manner, or at all,” the filing further added.

The company said that there can be no assurances that he will be able to trace the relevant documents pertaining to his educational qualifications in future or at all.

Who is Sumeet Kapahi?

Sumeet Kapahi is among the co-founders of Lenskart, along with Peyush Bansal, Amit Choudhary, Neha Bansal and Ramneek Khurana. Before joining Lenskart, Kapahi worked with Ray-Ban Sun Optics India Limited.

Lenskart IPO

The issue is a combination of a fresh issue, which totals to ₹2,150 crore, along with an offer for sale (OFS) of up to 132,288,941 equity shares.