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Lenskart’s DRHP discloses promoter Sumeet Kapahi unable to locate B.Com degree from DU
Sumeet Kapahi, Lenskart’s promoter and Global Head of Sourcing, has allegedly lost his B.Com (Hons) degree and marksheet from the University of Delhi and has been unable to trace them.
Lenskart, an omnichannel eyewear startup, is looking to raise Rs 2,150 crore (approximately $250 million) through a fresh issue of shares.
One of the promoters of IPO-bound eyewear brand Lenskart is reportedly unable to locate his graduation degree, according to media reports citing the company’s Draft Red Herring Prospectus (DRHP).
Sumeet Kapahi, Lenskart’s promoter and Global Head of Sourcing, has allegedly lost his B.Com (Hons) degree and marksheet from the University of Delhi and has been unable to trace them.
While Lenskart has submitted its DRHP to the Securities and Exchange Board of India (SEBI), the document is yet to be made public. However, a screenshot of the DRHP has surfaced online, revealing the disclosure.
The viral screenshot reads, “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 marksheet from the University of Delhi".
It further adds, "While he has written multiple emails and a letter to the concerned university requesting a copy of his degree certificate, and has also applied for the marksheets on the university’s portal, a response from the university is awaited".
The DRHP also notes that the company is uncertain whether the university will respond to the requests in a timely manner.
Storyboard18 could not verify the credibility of the screenshot of the DRHP.
Lenskart, an omnichannel eyewear startup, is looking to raise Rs 2,150 crore (approximately $250 million) through a fresh issue of shares. The total IPO size is expected to be in the range of $750 million to $1 billion, including a secondary sale by existing investors.
Earlier this year, Lenskart converted into a public limited company. It changed its name from Lenskart Solutions Private Ltd to Lenskart Solutions Ltd on May 30.
According to a report by Moneycontrol, Lenskart is expected to clock revnue of $755 million in fiscal year 2025 (Rs 6,415 crore approximately). However, the company's growth slowed to 17% from FY24 to FY25.
The report claimed that Lenskart's domestic revenue for FY25 is projected to be Rs 3,865 crore and Rs 2,550 crore from the international market.
The report also mentioned that company's EBITDA margins stood between 18-22% in FY25, while gross margin surged to 70%, driven by favourable cost structure.
Lenskart held around Rs 1,700 crore in net cash as of the first half of 2025.