Lenskart co-founder unable to locate DU degree, discloses company in IPO filing

Eyewear unicorn Lenskart Solutions has disclosed that Sumeet Kapahi, one of its co-founders and a promoter, has been unable to locate his Bachelor of Commerce (Honours) degree and marksheets from the University of Delhi.

The company revealed the matter in its draft red herring prospectus (DRHP) filed with the Securities and Exchange Board of India (SEBI) on Monday, as part of its proposed initial public offering (IPO).

What Lenskart said in IPO filing

Kapahi, who currently serves as Lenskart’s Global Head of Sourcing, has made multiple attempts to retrieve the documents. He has written to the university via e-mail and letter, and also submitted a request through its online portal.

However, a response is awaited, the DRHP noted.

"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 B.Com (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 with Lenskart since September 2011 and is responsible for sourcing strategies, supplier relationships, and cost optimisation. Prior to Lenskart, he worked with Ray-Ban Sun Optics India. In FY25, he received a total compensation of ₹2.24 crore, including ₹50 lakh in incentives payable in FY26.

Lenskart, based in Gurugram, is looking to raise ₹2,150 crore through a fresh issue of equity shares, alongside an offer for sale of 13.22 crore shares by existing promoters and investors.

Lenskart co-founders' salary formalised

The compensation structure was approved by shareholders at the company’s annual general meeting held on July 26.

Lenskart has also reappointed its three co-founders to leadership roles for a five-year term. Peyush Bansal will continue as managing director and CEO, while Neha Bansal and Amit Chaudhary will serve as whole-time directors. They are also eligible for bonuses, stock options, and other benefits, though specifics of their variable pay were not disclosed.