Private equity investor Warburg Pincus LLC is in advanced talks to buy a majority stake in Indian financial services company Future Capital Holdings Ltd from its founders, the Economic Times reported on Friday.

Warburg is expected to pay 170 rupees a share for 56 percent stake in Future Capital, the newspaper said, citing people close to the situation. The reported offer price values the stake at 6.2 billion rupees ($116 million).

Future Capital is the non-banking finance arm of diversified Future Group. The company provides consumer and mortgage loans and has a market capitalisation of about $170 million. Shares in Future Capital rose 2.7 percent on Thursday to 140.70 rupees.

Warburg Pincus and Future Capital could not immediately be reached by Reuters for comment.

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