Mumbai, Oct. 7 -- Gemsons Precision Engineering's promoters are looking to sell a controlling stake in a deal that may value the company at about Rs.1,000-1,200 crore, three people familiar with the matter said.

The deal has been launched by the company, and initial feelers have been sent to private equity firms, including EQT, Carlyle, Blackstone and ChrysCapital, the people said, adding that the idea is to enable a platform creation and expand capabilities. The transaction is likely to involve an 80-100% stake sale by the promoter entity, they said.

Platform refers to the concept of private equity firms acquiring a primary company to serve as the anchor for making subsequent bolt-on acquisitions to scale rapidly.

All the people spoke...