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Time of India
12 hours 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.
India Today
13 hours ago
- India Today
Delhi University mandates anti-ragging declarations for new students and parents
As the new academic session begins, the University of Delhi (DU) has stepped up its efforts to prevent ragging and ensure a smooth induction process for a meeting held by the Proctorial Board on Monday, a 10-point action plan was finalised to enforce a zero-tolerance approach towards ragging and and departments have been instructed to implement Ordinances XV-B and XV-C strictly and adhere to the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, The following are some of the key anti-ragging steps taken by Delhi University:1. MANDATORY ANTI-RAGGING UNDERTAKINGSAll newly admitted students and their parents or guardians must submit an anti-ragging undertaking at the time of admission via the national portal as per Supreme Court guidelines.2. JOINT CONTROL ROOMS ON BOTH CAMPUSESTo ensure prompt support and intervention, joint control rooms will operate from August 1 to August 8 at:North Campus: Tel. 27667221South Campus: Tel. 24119832These centres will be responsible for addressing student concerns and coordinating safety measures.3. ANTI-RAGGING AWARENESS WEEKIn accordance with UGC guidelines, DU will observe Anti-Ragging Day on August 12. This will be followed by an Anti-Ragging Week until August 18 to promote awareness among students and staff.4. CAMPUS-WIDE POSTER CAMPAIGNPosters outlining anti-ragging rules and student rights in both English and Hindi have been placed across strategic locations throughout DU campuses.5. ENTRY MONITORING AND VIGILANCE SQUADSColleges and hostels have been directed to:Restrict entry of outsidersForm Anti-Ragging Committees and Vigilance SquadsInvolve NCC/NSS volunteers in surveillanceThis is to ensure continuous monitoring of sensitive areas.6. POLICE PICKETS AND NIGHT PATROLLINGDelhi Police will post pickets outside every college, with a special focus on women's colleges. Regular patrols will be conducted throughout both campuses to enhance security.7. DEPLOYMENT OF WOMEN POLICE IN PLAIN CLOTHESPlain-clothes women officers will be deployed in and around college areas to deter ragging, eve-teasing, and other forms of harassment.8. VERIFICATION OF PAYING GUEST (PG) ACCOMMODATIONSStudents opting for PG housing are advised to verify their accommodation through the local police. This step is aimed at ensuring student safety beyond campus premises.9. ONLINE COMPLAINT SYSTEMS FOR REPORTINGPolice officials have ensured that students can report ragging incidents through streamlined online systems, including cybercrime portals, allowing for swift redressal of complaints.10. REGULAR COMPLIANCE REPORTS FROM COLLEGESHeads of institutions must submit:Weekly reports for the first three monthsMonthly reports thereafterThese will be sent to the University Proctor at proctor@ as mandated under UGC's 2009 anti-ragging WARNINGDelhi University has reiterated that any act of ragging will be met with strict penalties, including:advertisementSuspension or expulsionCancellation of admission or degreeWithholding of exam resultsDisqualification from classes and university activities- EndsMust Watch
Indian Express
14 hours ago
- Business
- Indian Express
DU to standardise classroom sizes in UG and PG days before new session
Just days before the University of Delhi implements the four-year undergraduate programme for the first time under the National Education Policy (NEP) 2020, the administration has issued a fresh notification standardising classroom sizes across all its undergraduate and postgraduate programmes. The move, aimed at bringing 'uniformity in Teacher-Student ratio,' comes as Delhi University prepares for a structurally new academic session starting in early August. According to the notification dated July 28, undergraduate lecture groups are to be capped at 60 students, and tutorials and practical classes are limited to 20 each. For postgraduate programmes, the corresponding limits are 50 for lectures, 20 for tutorials, and between 15 and 20 for practicals. 'Classroom size, in terms of the number of students, is hereby notified for compliance by all concerned,' the document, issued by the DU registrar, states. This latest order replaces an earlier directive issued in May 2023, and builds on a similar set of instructions circulated in November 2022. DU had then fixed batch sizes at 60 for lectures, 30 for tutorials, and 25 for practicals in undergraduate courses, and 50, 25, and 15–20, respectively, for postgraduate courses. However, the earlier guidelines had seen patchy implementation, prompting the administration to reassert and tighten the norms ahead of the new academic cycle. The new guidelines also specify student-group sizes for interdisciplinary and skill-based courses that form a core part of the NEP curriculum, including Generic Electives (GEs), Skill Enhancement Courses (SECs), and Value-Added Courses (VACs). For undergraduate programmes, lectures for these courses may range from 20 to 60 students, with tutorials and practicals similarly capped at 20. For postgraduate programmes, lectures for SEC and VAC courses are to have a class size of 20, but no tutorials or practicals are mandated. 'In case of SEC and VAC papers, the practical size should be the same as the class size,' the notification adds. The document outlines a minimum threshold as well. 'In UG, minimum students for any course shall be 20. In case adequate students are not available, a cluster of colleges shall under[take] the teaching learning process.' This provision is likely aimed at supporting smaller departments and newer courses that may struggle with enrolment under the expanded four-year framework. DU has also clarified that the specified class sizes apply 'on sanctioned strength and are exclusive of supernumerary seats.' This means that additional admissions through quotas or special categories are not to be factored into the fixed classroom limits. The notification permits colleges to create mentor-mentee groupings under UGC guidelines, and encourages optimal use of laboratory facilities. 'Colleges may make arrangements for practical classes in such a way that the Laboratory facilities are put to optimum utilisation.'
News18
14 hours ago
- Business
- News18
Co-Founder Of Rs 50,000 Crore Gurugram Startup Lost His DU Degree
Last Updated: The filing also said that Sumeet Kapahi has sent several emails and even a letter to the university, asking for copies of his degree certificate and marksheets. Eyewear retailer Lenskart has revealed that its co-founder and promoter, Sumeet Kapahi, is unable to trace his (Hons) degree and marksheets from the University of Delhi. The disclosure was made in the company's Draft Red Herring Prospectus (DRHP) filed with market regulator SEBI. As of June 13, Lenskart is valued over Rs 50,000 crore as of June 13, according to by startup tracker Traxcn. What is a Draft Red Herring Prospectus? A Draft Red Herring Prospectus is an initial document submitted by companies planning to go public. It shares details about the company's business, finances, and potential risks. Missing Degree and Marksheets In the risk factors section of the filing, Lenskart stated, '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 filing also said that Kapahi has sent several emails and even a letter to Delhi University, asking for copies of his degree certificate and marksheets. He also applied through the university's website. No response has been received so far. Who is Sumeet Kapahi? Sumeet Kapahi is one of the original promoters of Lenskart, which was founded in 2008 as Valyoo Technologies Private Limited by Peyush Bansal, Neha Bansal, Amit Chaudhary and Kapahi himself. He has been associated with the company since September 2011 and currently serves as the Global Head of Sourcing. Compensation Details According to the filing, Kapahi received Rs 22.46 million (Rs 2.24 crore) in compensation for FY25. Lenskart is one of India's largest eyewear retailers, selling products through online and offline channels. view comments First Published: July 29, 2025, 17:02 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.
Hindustan Times
16 hours ago
- Business
- Hindustan Times
Lenskart co-founder earning ₹2.2 crore unable to trace Delhi University degree ahead of IPO
Lenskart co-founder and promoter Sumeet Kapahi has been unable to trace his (Hons) degree and marksheets from the University of Delhi, the company revealed in its IPO filing on Monday, July 28. The curious case of the missing degree was revealed in the Draft Red Herring Prospectus filed by Lenskart with the capital market regulator Securities and Exchange Board of India (SEBI). Lenskart co-founder Sumeet Kapahi is unable to trace his degree certificate and marksheet from University of Delhi A Draft Red Herring Prospectus is an initial document submitted to SEBI by a company looking to go public. It outlines important details about the company, including its business operations, financials, and potential risks, but does not specify the final issue price or the exact number of shares being offered. Degree certificate, marksheets not traceable {{^usCountry}} {{/usCountry}} Under the Internal Risk Factors section of the filing, the eyewear retailer revealed that promoter Sumeet Kapahi's degree and marksheets from the University of Delhi are untraceable. Lenskart said that Kapahi has sent multiple mails to the university but has not yet heard back from them. '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,' read the IPO filing. {{^usCountry}} '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 the copies of the marksheets on the portal of the university on its website as well, a response from the university is awaited. {{/usCountry}} {{#usCountry}} '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 the copies of the marksheets on the portal of the university on its website as well, a response from the university is awaited. {{/usCountry}} Read More {{^usCountry}} '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. 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 concluded. {{/usCountry}} {{#usCountry}} '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. 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 concluded. {{/usCountry}} {{^usCountry}} Who is Sumeet Kapahi? What is his compensation? {{/usCountry}} {{#usCountry}} Who is Sumeet Kapahi? What is his compensation? {{/usCountry}} Sumeet Kapahi is the Global Head of Sourcing, co-founder and Promoter of Lenskart Solutions. Founded in 2008, Lenskart was originally incorporated as 'Valyoo Technologies Private Limited' by Peyush Bansal, Neha Bansal, Amit Chaudhary and Sumeet Kapahi. Kapahi has been associated with the company since September 2011. His compensation in FY25 amounted to ₹22.46 million or ₹2.24 crore. SHARE THIS ARTICLE ON
