MUMBAI, Aug. 30 -- Country Delight's parent has begun early-stage preparations for an initial public offering (IPO) in India that could raise $200-300 million, as the subscription-based dairy and fresh-produce delivery platform weighs a listing within the next 12-18 months, according to two people familiar with the matter.

Beejapuri Dairy Pvt. Ltd. will begin informal pitches to investment bankers over the next seven to 10 days to select lead managers for the proposed share sale, one of the people said.

The proposed IPO is expected to comprise a combination of fresh equity and an offer-for-sale by existing institutional shareholders, the second person said. The final transaction size, primary-secondary split and timing will depend on bo...