New Delhi, March 2 -- Gujarat-based chemicals maker Dorf Ketal Chemicals India Ltd has likely deferred its initial public offering (IPO) as it seeks to raise up to Rs.2,000 crore in a pre-IPO funding round, according to two people familiar with the matter.

The funds will finance part of the proposed acquisition of Italmatch Chemicals SpA, a specialty chemicals group currently backed by private equity firm Bain Capital, one of the two persons cited earlier said, both of whom spoke on the condition of anonymity.

The company is in talks with global private equity firms for participation in the fundraising, the second person said. Till the Italmatch deal is closed, the public listing is on the backburner, this person added.

Deliberations a...