Lenskart, which has become the country's largest optical brand, can deal to raise $ 500 million (about Rs 5000 crore). This deal is going to be Abu Dhabi Investment Authority, which has planned to buy stake in this eyewear startup of India. People familiar with the matter said on condition of anonymity that Abu Dhabi's sovereign wealth fund is finalizing an agreement to buy existing Lenskart stocks and new shares.
After completion of this deal with Abu Dhabi Investment Authority, the value of Lenskart will exceed four billion dollars. According to Bloomberg's report, this deal can be announced this week. The company founded by Piyush Bansal is backed by investors such as KKR & Company, SoftBank Group Corp, Temasek Holdings Pte and PremjiInvest.
Lenskart's co-founder and CEO is Piyush Bansal and he along with two of his friends started this startup in the year 2010. Lenskart is engaged in the business of selling eyeglasses and contact lenses directly to consumers through technology and supply chain automation.