ADIA may seal $500-million stake deal in eyewear start-up Lenskart

Eyewear firm likely to raise another $100 million from ChrysCapital

Abu Dhabi Investment Authority (ADIA) and private equity fund ChrysCapital are in negotiations to acquire a stake in eyewear start-up Lenskart for about $600 million, according to sources.

Delhi-based Lenskart’s valuation is expected to be at $4.5 billion. ChrysCapital, which has backed start-ups Dream11, Xpressbees and FirstCry in India, is expected to invest $100 million in Lenskart.

“The conversations are going on and the deal may be announced in a few weeks,” said a person familiar with the matter. “If the deal is done, then it is a significant validation for an omnichannel startup which is growing at a good