Mumbai, April 24 -- Temasek-backed Country Delight is in early discussions to raise up to $100 million in a mix of primary and secondary transactions, three people familiar with the matter told Mint.

"The company has appointed Avendus to help with the process and the fundraiser will close in the next 6-8 months," one of the people cited above said.

"Some of the earlier investors are expected to sell in this round and the company is in talks with new investors to come on board," a second person said, adding that valuation details are not known yet.

To be sure, shareholders sell their stake to other existing or new investors and no new capital is injected into the company in a secondary transaction. Such transactions generally take place...