Lenskart co-founder Peyush Bansal's quest for a promoter tag and how he's securing it

Our Founder and MD, Mr. Shriram Subramanian, recently shared his insights Moneycontrol regarding Peyush Bansal’s decision to secure the Promoter tag ahead of Lenskart's IPO.

Bansal's move to increase his stake from 5.7% to 10.28% by purchasing shares from investors at a significant discount highlights important governance considerations for founders seeking greater control. While the shift to a Promoter tag offers more decision-making power, it also brings increased regulatory scrutiny, especially around share sales and disclosures.

Mr. Shriram Subramanian highlighted, "Current rules do not permit a Promoter to receive shares from the ESOP pool. While having more stake in the company means greater control over operations and more decision-making abilities, it does not necessarily mean that being a promoter means a founder will have more agility. He further added that When Promoters sell shares, they will have to inform the exchanges and the board. Founders of new-age companies can make such decisions without much scrutiny.

Read the full article here: https://www.moneycontrol.com/news/business/startup/lenskart-co-founder-peyush-bansal-s-quest-for-a-promoter-tag-and-how-he-s-securing-it-13350635.html