Max India Limited (NSEI:MAXIND) is in talks with private equity (PE) firms to sell 5% to 10% stake in its Antara Assisted Care Services Limited, two people aware of the development said. Max India, part of the $4 billion Max Group, is seeking a pre-money valuation of INR 20,000 million for the wholly-owned unit, the people said on condition of anonymity. Antara has two lines of businesses-Assisted Care services, including Care Homes, Care at Home, MedCare Products and AGEasy; and independent residences for seniors.

The company is in the process of setting up multiple communities and care facilities across different regions of India. "Antara, which has multiple lines of businesses all targeted towards seniors above the age of 55 years, is growing fast. While its real estate projects have seen good traction, the company wants to expand its direct-to-consumer (D2C) service platform AGEasy; hence, they are looking to raise INR 1,400 million to INR 2,000 million," one of the two people said on condition of anonymity.

In response to a query, a company spokesperson said, "Antara Senior Care is currently well-capitalized to fund its growth and expansion plans".