Latest news with #Kapahi
Economic Times
7 hours ago
- Business
- Economic Times
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
Time of India
7 hours ago
- Business
- Time of India
Lenskart cofounder Sumeet Kapahi unable to 'trace' Delhi University's degree
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 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 ).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 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 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 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 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 Monday, Gurugram-based Lenskart filed preliminary papers with Sebi seeking its approval to raise funds through an IPO involves raising Rs 2,150 crore through fresh issuance of equity shares. Besides, promoters and investors would offload 13.22 crore shares.
News18
8 hours ago
- Business
- News18
Lenskart co-founder Sumeet Kapahi unable to trace Delhi Universitys degree
Last Updated: New Delhi, Jul 30 (PTI) In a surprising disclosure, eyewear giant Lenskart Solutions has revealed that Sumeet Kapahi, one of its co-founders 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). 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. PTI SP ANU view comments First Published: July 30, 2025, 14:45 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
a day ago
- Business
- NDTV
Lenskart Promoter Can't Locate College Degree, Social Media Says, "Imagine Being An Investor"
Eyewear company Lenskart filed its Draft Red Herring Prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI) on Tuesday (Jul 29), but the headlines were grabbed by its co-founder and promoter, Sumeet Kapahi, and not for the right reasons. As per the IPO filing, Mr Kapahi has been unable to locate his (Hons) degree and marksheet 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," the filing mentioned under the risk factors section of the DRHP. "There is no assurance that the university will respond to such emails and letters in a timely manner, or at all," it added. The company said 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. Lenskart has disclosed in its IPO filing that a company promoter hasn't been able to locate his college degree -- and the university isn't responding. — Manish Singh (@refsrc) July 29, 2025 'Imagine being an investor' As the news of Mr Kapahi's missing degree went viral, social media users were quick to chime in with reactions. While a section questioned the company and Mr Kapahi, others said it was not a big issue. "I am confused about who is more careless: Promoter or University," said one user, while another added: "Not a big deal. It can happen. Has happened with mine from Mumbai University." A third commented: "Imagine being an investor and reading this in the DRHP like "we asked the college but they didn't reply, so trust us bro" this is NOT a netflix plot this is a billion dollar listing where basic proof is missing." A fourth said: "Lenskart needs special lens to find the certificate???" Notably, Mr Kapahi is one of the co-founders of Lenskart, along with Peyush Bansal, Amit Choudhary, Neha Bansal and Ramneek Khurana. He was paid a compensation of Rs 2.246 crore in the financial year 2024-25 (FY25). Meanwhile, Lenskart's revenue rose to Rs 6,652.5 crore in FY25 from Rs 5,642.37 crore in the previous year. It also posted its first-ever profit of Rs 297.34 crore in FY25, compared to a loss of Rs 10.1 crore in the previous fiscal year.
Time of India
a day ago
- Business
- Time of India
Lenskart IPO: Co-founder Sumeet Kapahi earns ₹2.2 crore but can't trace his Delhi University degree, filing reveals
In a recent IPO-related disclosure, Lenskart Solutions has stated that one of its co-founders, Sumeet Kapahi, is currently unable to trace his Bachelor of Commerce (Honours) degree and related marksheets from the University of Delhi. This detail came to light in the company's Draft Red Herring Prospectus (DRHP) submitted to the Securities and Exchange Board of India (SEBI) on July 28. The DRHP is a preliminary document required by SEBI from any company looking to go public. It provides essential information about the business, its financials, management, and possible risk factors, although it does not include the final share price or number of shares being issued. Lenskart has disclosed in its IPO filing that a company promoter hasn't been able to locate his college degree -- and the university isn't responding. What Lenskart said in the risk disclosure Under the 'Internal Risk Factors' section of the DRHP, Lenskart clearly mentioned the issue with Kapahi's educational documentation. The company wrote: '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.' According to the filing, Kapahi has taken several steps to retrieve the documents. These include sending multiple emails and a formal letter to the university, as well as applying for copies of his marksheets through the university's official online portal. However, as of now, he has not received any response. The document further adds: 'Accordingly, reliance has been placed on certificates furnished by him to us and the BRLMs to disclose details of his educational qualifications in this Draft Red Herring Prospectus.' The company also acknowledged that there is no assurance whether the missing documents will be recovered in the future. Who is Sumeet Kapahi? Sumeet Kapahi is one of the four co-founders of Lenskart, alongside Peyush Bansal, Neha Bansal, and Amit Chaudhary. He has been with the company since September 2011 and currently serves as the Global Head of Sourcing. Lenskart was originally incorporated in 2008 as Valyoo Technologies Private Limited. Over the years, it has grown into one of India's leading eyewear brands with a strong online and offline presence. His compensation ahead of the IPO Despite the issue with his educational records, Kapahi continues to hold a senior leadership role at Lenskart. The company has disclosed that his compensation for the financial year 2024–2025 stands at ₹22.46 million, or ₹2.24 crore. This compensation disclosure, combined with the missing academic documents, was part of the company's broader risk and transparency commitments made in the DRHP before its public listing process. As Lenskart prepares to enter the public market, this unusual disclosure about a promoter's missing academic records adds a unique note to its IPO journey. While no wrongdoing has been alleged, and all necessary filings have relied on available certificates, the company has been transparent in stating that there is no guarantee the documents will be found in the future. To stay updated on the stories that are going viral follow Indiatimes Trending.
