Purplle, an Indian online beauty retailer, is in the early stages of talks for a $100 million investment from Abu Dhabi Investment Authority (ADIA), Mint, an Indian business newspaper, reported, citing informed sources.

The investment will likely take through a secondary transaction, which involves some early investors exiting the startup, the sources said.
 
One of the sources said the investment is expected to take place in the coming months and may form part of the company’s pre-IPO round.
 
If the deal materialises, it will mark ADIA’s second investment in the startup within a year following its previous investment of $50-60 million in Purplle in May 2023, valuing it at $1.1 billion.

The company intends to open more offline stores this year, driven by customers’ preference for hybrid shopping modes.

Purplle CEO Manish Taneja plans to launch an initial public offering (IPO) between the second half of next year and early 2026, Mint reported.

(Editing by Seban Scaria Seban.scaria@lseg.com)