The Abu Dhabi Investment Authority (ADIA) is reportedly in talks with eyewear brand Lenskart to invest $350-$400 million at a valuation of $4.5 billion.
The investment, once it goes through, could give ADIA 10 per cent stake in Lenskart, according to a report in The Economic Times, citing people aware of the matter.
The investment will likely be through a secondary sale of shares with a small primary round consisting of growth equity at a $4.5 billion valuation, the report said.
Details on investors and who would dilute their stake and by how much, are yet to materialise and an official announcement is expected in a couple of weeks, the report said.
Started in 2010, Lenskart has an operational manufacturing unit in Haryana. 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.
(With agency inputs)