MUMBAI, Feb. 5 -- The promoters of Wonder Products Group have engaged PwC as an adviser to sell a 30-35% stake in the contract manufacturing company in what will likely be its first round of external funding, two people familiar with the matter said.

"The valuation discovery is still underway, but the promoters are seeking about $250 million for the 30-35% stake," one of the people said, adding that private equity firms will be tapped as part of the process.

"These efforts are aimed at professionalizing the company ahead of plans to eventually list in the public markets," the second person said on the condition of anonymity.

Wonder Products' promoters Rajat Kumar Bhalotia and Rajesh Kumar Bhalotia and PwC did not respond to Mint's requ...