The Goldman Sachs Group, Inc. (NYSE:GS) and TVS Capital Funds Limited are in advanced talks to lead a $150 million investment in CarDekho's insurance unit InsuranceDekho, two people aware of the matter said, in what is expected to be the biggest Series A funding round in India. The company is likely to be valued at $450-500 million in the funding round, said one of the two people cited above, both of whom spoke on condition of anonymity. "The documents have been signed, with only the insurance regulator's approval pending," the second person said, adding other funds, too, will join the round, which will be primarily an equity raise.

Spokespeople for InsuranceDekho and Goldman Sachs declined to comment, while TVS Capital did not respond to a request for comment.