Leading American company Warburg Pincus, intends to buy a minority stake in Kalyan Jewellers, a leading Indian retail jewellery entity, reports say. For this it is ready to invest around $200 million.

This investment by Warburg, which is competing against Singapore-based Temasek to own a minority stake in the jewellery company, may place the value of Kalyan Jewellers at $1.2- 1.4 billion, reports add.

The negotiations with Warburg seem to be in the final stages and could conclude by next month, reports add. Other companies who had shown initial interest in the stake included Apax Partners, Blackstone, Bain Capital and TPG Capital, reports add.

As per reports, private equity investors’ interest in owning a franchisee of gold retail jewellery, remains unaffected by the tax and other hurdles towards the growth of gold jewellery demand in India.