New Delhi, Oct. 29 -- India's family-owned precision engineering and manufacturing businesses are increasingly seeking to institutionalize operations and sign up private equity or strategic partners to scale up to the next level of growth, according to bankers and industry executives. They include Hical Technologies Pvt Ltd, CTC Group, Balaji Precision Components Pvt Ltd, Gemsons Precision Engineering Pvt Ltd and Rabwin Industries Pvt Ltd.

CTC Group, started by Ramesh Kumar Agarwalla and Gokul Kumar Agarwalla in 1983, has mandated Avendus Capital Pvt Ltd as an adviser to sell a minority stake and raise about $50 million to fund its growth plans, at least two people said. Hical, based in Bengaluru and founded by Shashikiran Mullur in 1988...