Mumbai, Sept. 22 -- Singapore's state investor Temasek is eyeing a minority stake in Bengaluru-based auto components maker Nash Industries, which is looking to raise $120-150 million from private equity investors, according to three people close to the development.

The company's first institutional fundraising will see it sell around a 25-30% stake, the people added.

"Temasek (Holdings Pte Ltd) is also in talks and is likely to put in a bid," the first person said, adding that the Carlyle Group and ChrysCapital, among others, are also in the fray.

Moneycontrol first reported on 10 September that Nash Industries India Pvt. Ltd was in talks with the two PE firms to raise up to $200.

"Auto components and precision engineering are high-gr...