Adya is about to invest $400 million in the Indian “Lenskart”.

Dubai: Khansa Al-Zubayr
The Economic Times newspaper stated, on Monday, in a report that the Abu Dhabi Investment Authority (ADIA) is in advanced stages of talks regarding an investment of $350 million to $400 million in the Indian eyewear store, Lenskart Lens NS, valued at $4.5 billion. , according to Archyde.com.
The report added, citing people familiar with the matter, that this investment, which might give Adia approximately 10% of Lenskart shares, is likely to be in the form of a secondary sale of shares with a small initial round that includes share growth.
Regarding the details of the investors who will dilute their shares and the amount of those shares, the report said that they have not been determined yet, and that an official statement is expected within two weeks.
It is worth noting that there was no comment from the Abu Dhabi Investment Authority (ADIA), which does not yet own a stake in Lenskart.
The Lenskart project was launched in 2010 by investors including US private equity firm NINR, Japanese conglomerate SoftBank and Singaporean state investment firm Tamasek Holdings.
Lenskart also operates in the UAE, along with the US and Singapore, and has a manufacturing unit in the Indian state of Haryana and a fully automated plant that has yet to start in Rajasthan.
Earlier this year, it acquired a majority stake in Japanese eyewear brand Undays, turning the Indian company into one of Asia’s largest online retailers in the sector.