Bain plans to sell up to half of its 8.6 per cent interest in open market deals today, according to a term sheet seen by Reuters.
The firm has set the indicative price range at between 2,582 rupees and 2,717 rupees, which represents a discount of up to five per cent from Thursday’s closing price.
Another company backed by Bain, latex and rubber maker Trinseo, is looking to raise up to $190m via an IPO.
It recently priced its shares at between $17 and $19 each.
Recent private equity deals in India include the acquisition a 50 per cent stake in home shopping business STAR CJ Network India by Providence Equity Partners.
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