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Top stock picks, July 31: PI Industries, Grasim; check target, stop-loss
Ruchit Jain Mumbai
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Top stock picks, July 31: PI Industries, Grasim; check target, stop-loss
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Birla Opus becomes third-largest player by revenue in six months of pan-India operations
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Lenskart cofounder Sumeet Kapahi unable to 'trace' Delhi University's degree
Agencies Sumeet Kapahi, cofounder, Lenskart In a surprising disclosure, eyewear giant Lenskart has revealed that Sumeet Kapahi, one of its cofounders and promoters, has been unable to locate copies of his Bachelor of Commerce (Honours) degree and marksheets from the University of Delhi. The revelation was made in the company's draft red herring prospectus (DRHP) filed with markets regulator Sebi as part of its proposed initial public offering (IPO). Also Read: Lenskart IPO: Founder Peyush Bansal buys back company shares at steep discount ahead of going public According to the draft documents filed on Monday, Kapahi, who currently serves as the company's Global Head of Sourcing, has made several efforts to retrieve the documents. He has written multiple e-mails and a letter to the university, and has also applied for copies of the marksheets through the university's online portal. However, a response is awaited. The company noted that there is no assurance that the University of Delhi will respond to these communications in a timely manner or at all. "One of our promoters, Sumeet Kapahi, who is also the Global Head of Sourcing of our company, has been unable to trace the copies of his (Hons) degree and marksheets from the University of Delhi," the draft prospectus stated. "Further, 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," it added. Kapahi has been associated with Lenskart since September 2011, where he is responsible for developing and planning sourcing strategies, managing supplier relationships, and driving cost optimization. Prior to joining Lenskart, Kapahi worked with Ray-Ban Sun Optics India. In fiscal 2025, he received a total compensation of Rs 2.24 crore, which includes provisions for incentives amounting to Rs 50 lakh payable in fiscal 2026. On Monday, Gurugram-based Lenskart filed preliminary papers with Sebi seeking its approval to raise funds through an IPO. The IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore shares. Also Read: IPO-bound Lenskart buys 80% stake in Spain's Meller for Rs 407 crore Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Jane St: How an options trader smelt a rat when others raised a toast Regulators promote exchanges; can they stifle one? Watch IEX TCS job cuts may not stop at 12,000; its bench policy threatens more From near bankruptcy to blockbuster drug: How Khorakiwala turned around Wockhardt Stock Radar: SBI Life rebounds after testing 50-DEMA; could hit fresh record highs above Rs 2,000 – check target & stop loss These 10 banking stocks can give more than 25% returns in 1 year, according to analysts Two Trades for Today: A metals stock for an over 6% gain, a large-cap chemicals maker for about 7% upmove F&O Radar| Deploy Broken Wing in LIC Housing Finance to benefit from bearish outlook
