Mumbai, June 4 -- Bengaluru-based Tessolve Semiconductor Pvt. Ltd is in talks with global private equity (PE) firms Apax Digital, TPG, and Primerica, among others, to sell a minority stake for growth capital, according to three people with knowledge of the development.

The PE firms are eyeing 30-40% stake in the semiconductor services company at a valuation of around $300 million, the people cited above said on the condition of anonymity.

"Currently, the due diligence is on," the first person said. "Binding bids will take some time."

The second person said that global investment bank Jefferies has been appointed to help the company raise capital. "The capital will help the company grow its business inorganically and expand into newer c...