Why "lenskart" Is Trending Today?

Lenskart, an eyewear brand, has filed draft papers for an initial public offering (IPO) targeting Rs 8,000 crore. The company's co-founder and CEO, Peyush Bansal, has recently acquired a 2.5% stake at a $1 billion valuation. Notably, the IPO filing revealed that a promoter, Sumeet Kapahi, cannot locate his college degree from Delhi University.

Lenskart, backed by SoftBank, has filed draft papers with SEBI to raise ₹2,150 crore (approximately $1 billion) in fresh capital via an Initial Public Offering (IPO).