The Abu Dhabi Investment Authority intends to invest about 350 to 400 million dollars in an Indian company.
According to Reuters, the Indian Economic Times newspaper quoted informed sources as saying that the Abu Dhabi Investment Authority is in talks that have reached advanced stages with the Indian eyewear retailer Lenskart.
This investment could give the Abu Dhabi Investment Authority about 10% of Lenskart shares, and is likely to be in the form of a secondary sale of shares.
Lenscart and the Abu Dhabi Investment Authority did not immediately respond to a Reuters request for comment.
The Indian newspaper report stated that the details regarding the investors who will dilute their stake and the size of that have not yet been determined, while an official announcement is expected within two weeks.
The Abu Dhabi Investment Authority, through one of its wholly-owned companies, acquired a 20% stake in the Indian company IFL Home Finance, which specializes in financing popular housing, for 220 billion rupees ($282 million).
It is noteworthy that the Abu Dhabi Investment Authority is active in executing acquisition deals in the Indian market, the latest of which was the purchase of a stake in HDFC Capital for $24.09 million.
