New Delhi, June 14 -- The promoters of Chamundi Die Cast Pvt. Ltd., which manufactures components primarily for the auto industry, are exploring a stake sale to raise up to Rs.1,500 crore and have appointed KPMG as an advisor for the process, according to two people familiar with the matter.

"The company is looking to raise about Rs.1,200-1,500 crore to accelerate growth and professionalize operations," one of the people cited above said. A second person confirmed that KPMG is advising the company and that several private equity funds have been approached.

"The deal has been in the market for quite some time and had not picked up pace due to global uncertainties. But it has now been relaunched again," the second person said.

Both peopl...