Lenskart promoter Sumeet Kapahi can’t find his B.Com Honours degree; DU yet to respond

“There is no assurance that the university will respond to such emails and letters in a timely manner, or at all,” the DRHP said.

Sumeet Kapahi, Promoter and Global Head of Sourcing at IPO-bound Lenskart, has been unable to find his B.Com Honours degree and marksheets that were issued by the University of Delhi, one of the internal risk factors in the company’s draft red herring prospectus revealed.

“While he (Kapahi) has written multiple emails, and a letter to the concerned university requesting for a copy of his degree certificate, and has applied for the copies of the marksheets on the portal of the university on its website as well, a response from the university is awaited,” the risk factor said.

“There is no assurance that the university will respond to such emails and letters in a timely manner, or at all,” it added.

Kapahi, who was the third one to join hands with co-founders Peyush Bansal and Amit Choudhary. He comes from working with global eyewear brands such as Luxottica, Rayban, Bausch & Lomb and others.

IPO ahead

Omnichannel eyewear brand Lenskart, which is backed by marquee investors like SoftBank, Premji Invest, Temasek, and the Abu Dhabi Investment Authority (ADIA), has filed draft papers with the SEBI to raise funds via initial public offering.

The IPO will consist of fresh issuance of shares worth Rs 2,150 crore, and an offer-for-sale of 13.2 crore equity shares by existing shareholders.

Investors like SoftBank-backed SVF II Lightbulb (Cayman) Limited, Premji Invest-backed PI Opportunities Fund II, ­­­ Temasek-affiliated Macritchie Investments, Kedaara Capital Fund II, Alpha Wave Ventures LP, and Schroders Capital Private Equity Asia Mauritius, will be the selling shareholders in the offer-for-sale (OFS).

Individual shareholders and promoters – Peyush Bansal (2 crore shares), Neha Bansal (57.4 lakh), Amit Chaudhary (28.7 lakh), and Sumeet Kapahi (28.7 lakh) – will also be offloading shares in the OFS.

Promoters hold 19.96 percent stake in the company, and the remainder 80.04 percent shares are owned by public shareholders including above-mentioned investors.