Long noncoding RNAs (lncRNAs) have recently gained significant attention due to their role in various disease models. Here, we have attempted to understand the role of exosomal lncRNAs in osteoporosis (OP). We further studied the role of lncRNA016908 in OP by perturbating the levels of lncRNA016908 through overexpression or siRNA mediated knockdown in bone marrow mesenchymal stem cells (BMMSCs). To further understand the molecular mechanism of lncRNA016908 leading to OP, we found the molecular interactors of lncRNA016908 by co-immunoprecipitating lncRNA016908 interacting proteins and identifying them using mass spectrometric analysis. We found that lncRNA016908 interacted with eukaryotic initiation factor, eIF5A2, which was also elevated on overexpression of lncRNA016908. By various combinations of overexpression and knockdown of both eIF5A2 and lncRNA16908 simultaneously, we showed the effect on osteogenic markers such as OCN, OPN, alizarin staining etc. LncRNA016908 was shown to be localized mainly to the nucleus and along with eIF5A2, may bring about transcriptional changes that may accelerate osteoporosis by influencing the expression of osteogenic genes. Finally, as a proof-of-principle experiment, we show that the exosomes derived from osteoporotic patients when co-cultured with BMMSCs, lead to a reduction in OP in the BMMSCs as compared to those co-cultured with exosomes from healthy individuals. We thus, come closer to understanding the pathophysiology of OP by deep diving into the molecular mechanism mediated through lncRNAs which can also be used as diagnostic biomarkers in future.