Mumbai, June 11 -- Global private equity firms including Apax Partners, Bain Capital, Carlyle and General Atlantic are vying for a controlling stake in the digital transformation services (DTS) business of Harman US in India, three people aware of the development said. Harman US, a Samsung Group company, is looking at a valuation of $400-500 million for the Indian DTS business.

"Currently, the funds are doing due diligence. The second round of bids is likely only next month," one of the people cited above said on the condition of anonymity.

Harman US has hired global investment bank Deutsche to help with the process. Mint was the first to report on the group's plans to sell a controlling stake in the India business on 12 May. Harman US ...