Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in advanced talks with Indian eyewear retailer Lenskart for an investment of up to $350 million to $400 million at a $4.5 billion valuation, The Economic Times reported on December 12, citing people aware of the matter.
The investment will mostly be through a secondary sale of shares with a small primary round consisting of growth equity, as per the report.
Moneycontrol could not independently verify the report.
The report said the company has raised total funding of $1.05 billion over 19 rounds. It is not yet finalised which investor will dilute and by how much, the report said.
The investment once complete will give ADIA a nearly 10% stake in the eyewear retailer.
Started in 2010, Lenskart has an operational manufacturing unit in India's Haryana state, while another fully-automated plant in Rajasthan state has yet to start functioning. It also operates in the United States, Singapore and the United Arab Emirates.
KKR & Co Inc-backed Lenskart had earlier this year acquired a majority stake in Japanese eyewear brand Owndays, turning the Indian company into one of Asia's largest online retailers in the segment.
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