Once completed, the investment will give Abu Dhabi Investment Authority a near 10 per cent stake in Lenskart
Sovereign wealth fund Abu Dhabi Investment Authority (ADIA) is in advanced talks to invest USD 350-400 million in India’s omni channel eyewear retailer Lenskart, valuing the company at $4.5 billion.
According to a media report, the proposed investment will mostly be through a secondary sale of shares with a small primary round consisting of growth equity at a $4.5 billion valuation.
Incepted in 2010, Lenskart investors include Softbank, KKR, PremjiInvest, Kedaara Capital, Temasek, Falcon Edge, Bay Capital and Chiratae Ventures. So far the company has raised a total funding of $1.05 billion over 19 rounds as per Tracxn data.
Once completed, the investment will give ADIA a near 10 per cent stake in Lenskart. However, it is not yet finalised which investor will dilute and by how much, the report added.
In 2021, Lenskart started off its international operation in Singapore, the US and the Middle East. The company even acquired a majority stake in Japan’s Owndays in June, creating one of Asia’s biggest online retailers of eyewear.
At present, Lenskart runs over 1,200 stores in the country and abroad. The company has a manufacturing unit in Haryana and is scaling up with a fully automated facility in Bhiwadi, Rajasthan, to start in a few months.