MUMBAI, Dec. 29 -- IndiaFirst Life Insurance has drawn interest from Samsung Life Insurance, Prudential Plc, BNP Paribas, and Norwest Venture Partners as existing investor Warburg Pincus explores an exit from its 26% stake, four people familiar with the matter said. Warburg has appointed Barclays as adviser to run the sale process, these people said.

"The transaction is likely to be strategic in nature and the talks are at an early stage," one of the people cited above said.

"Warburg may not sell their entire stake if they don't get the desired valuation. The entire price discovery will be based on the 26% sale, and it will be only secondary. There will be no primary infusion as the company does not need capital now," a second person sa...