The Abu Dhabi Investment Authority (ADIA) is close to paying $500 million for a stake in the Indian eyewear start-up Lenskart Solutions Pvt. The deal, which could be announced as soon as this week, is likely to include both existing Lenskart shares and new equity. The company is anticipated to be valued at more than $4 billion. With the aid of KKR, SoftBank Group, Temasek Holdings, PremjiInvest, and other investors. Lenskart is poised to close its funding round despite the current global tech company downturn that has resulted in significant layoffs and decreased investment activity. The business has grown to be India’s top optical brand by selling glasses and contact lenses. Directly to customers using technology and supply chain automation.
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In a July interview with Bloomberg Television, Lenskart co-founder and CEO Peyush Bansal. Disclosed that the business is profitable and intends to go public within the following four years. In June, the business reached an agreement to pay $400 million for the majority of Owndays Inc. of Japan. It appears that the acquisition will support Lenskart in maintaining its impressive growth trajectory. And strengthening its position as a key player in the Indian eyewear market. Even though the specifics of the ADIA deal are still subject to change. Neither Lenskart nor ADIA have released any statements in the media about the agreement. The acquisition is expected to support Lenskart’s growth and solidify its position as a key player in the Indian eyewear market. While the details of the ADIA deal are still subject to change. Neither Lenskart nor ADIA has made any official statements regarding the agreement.