A deal for the stake could be worth about $300m, according to Reuters, which cited two sources with direct knowledge of the matter.
Lafarge could exit India entirely if a strategic buyer offered to buy all of its operations in the country, the report said.
In October Singapore-based buyout house Nalanda Capital sold about 1.6 per cent of Indian cement maker Shree Cement for about INR2.13bn ($41m) for a two times return on investment.
The firm’s India Equity Fund parted with more than 561,000 shares at INR3,800 ($68.83) each according to the Bombay Stock Exchange, which said the transaction was made through a bulk deal.
Shree Cement is the fourth-largest cement company in India and the largest manufacturer and seller in the north region.
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