ADIA Considers $100 Million Investment in India's Purplle

ADIA Considers $100 Million Investment in India's Purplle

By Staff Writer, 08 April 2024

The Abu Dhabi Investment Authority (ADIA) is currently in preliminary discussions for a significant investment of $100 million to Purplle, the leading Indian online beauty retailer, according to sources familiar with the matter as reported by Mint, an Indian business newspaper.

Sources indicate that the investment is likely to occur through a secondary transaction, involving the departure of some early investors from the startup. It is anticipated that this investment will take shape in the forthcoming months and could potentially constitute a segment of Purplle’s pre-IPO funding round.

Should this deal come to fruition, it would mark ADIA's second investment in Purplle within a year, following its prior investment of $50-60 million in May 2023, which valued the company at $1.1 billion.

In line with evolving consumer preferences for hybrid shopping experiences, Purplle intends to expand its footprint by launching more brick-and-mortar stores throughout the year.

Manish Taneja, the CEO of Purplle, is reportedly strategizing to launch an initial public offering (IPO) between the latter half of next year and early 2026, as per insights from Mint.

Source: Zawya

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