Reliance Capital Limited (NSEI:RELCPAPITAL) is in talks with four firms to sell a majority stake in Reliance Home Finance Limited (BSE:540709) that may also include divesting ownership control to the new partner, said three people familiar with the matter. The talks are taking place with Varde Partners Inc., Aion Capital Management Limited and Cerberus Capital Management, L.P. and Altico Capital India Limited, said the people cited above, requesting anonymity. “The company is in an advanced stage of discussions with two of these firms. It is keen to close the deal as soon as possible.

The plan is to sell a stake in the company and then by 2020, wind down the wholesale lending business, and eventually, it is the retail housing finance business that will stay on,” said the first person cited above. A Reliance Capital spokesperson declined to comment. Spokespersons for Varde Partners and AION Capital declined to comment, while Cerberus Capital didn't respond to queries.