Mumbai, Aug. 7 -- Coimbatore-based Pricol Ltd's plan to spin off its driver information and connected vehicle solutions (DICVS) business has drawn interest from global private equity funds, underscoring the growing appeal of India's automotive electronics sector.

US-headquartered Advent International and Sweden-based EQT are among the PE players evaluating an investment in the demerged business of the listed firm, according to three people familiar with the matter.

"The talks are still in an early stage, and the promoters will not dilute any stake. The potential investment will go towards the company's expansion plans, which is currently being funded through internal accruals," said the first person cited above.

"The transaction is cur...