MUMBAI, June 23 -- Interface Auto, a manufacturer of auto electronic components, is in the early stages of exploring a majority stake sale that would value the company at up to $300 million ( Rs.2,830 crore), three people familiar with the matter said.

EY is advising the company's promoters, and the deal is likely to attract private equity funds and strategic investors, the people added.

"The deal will likely value the company at $250 million to $300 million," one person said. All the people spoke on condition of anonymity.

Interface and EY did not respond to Mint's requests for comment on the planned stake sale.

The promoters of Interface Auto, which operates the Interface Microsystems brand, have more than five decades of experience...