New Delhi, July 28 -- Early backers of SK Finance, a non-banking financial company based in Jaipur, are in talks with secondary-focused fund Kenro Capital to explore partial exits in a $50-60 million deal, two people familiar with the matter said.

The deal remains under negotiation, with details around valuations still being discussed. Long-term backers TPG and Norwest, which have held stakes in the lender for eight to nine years, are expected to be among the selling shareholders, these people added.

"The discussions are still ongoing and multiple funds have expressed interest to pick up a stake in the asset. There is also a possibility of the round being upsized to include a primary capital raise from other investors," the second perso...