Mumbai, Sept. 21 -- Pune-based Nilon's, which makes pickles, spices and other packaged foods, is exploring a majority stake sale that could value the company at Rs.800-1,200 crore, according to three people familiar with the development.

The deal process has been launched, with several strategic and private equity firms tapped to participate, said one of the people cited above. Existing investors are exploring a partial or full stake sale, but the exact terms of the deal have yet to be determined, as discussions are still underway, added the second person.

"The company is seeking a valuation of about 2-2.5x its revenue. If the deal materializes, the current thinking is for the founding family to continue overseeing the operations," the ...