U.S. private equity firms KKR and Blackstone are among a group interested in buying a stake in Shriram Group, an Indian financial services firm.
The two potential suitors have each held preliminary talks in recent months in Shriram. The investment could total about $3 billion.
The deal would require Shriram Capital to first finalize plans for a three-way merger with its publicly traded arms, Shriram Transport Finance, and Shriram City Union Finance.
Shriram has secured $7 billion of acquisitions this year by buyers ranging from UK-based private equity firm Actis LLP to Singaporean investment holding company Temasek Holdings.