According to report circulating, Rakesh Jhunjhunwala and his family might be planning to sell more than 32% stake held by them in Aptech Ltd.

The Jhunjhunwala family may also have hired Avendus Capital Pvt. Ltd to manage the stake sale. The deal is expected to value the firm at a round $150 million. The shares of the company were trading at Rs. 96, which indicates a market value of about $91.2 million.

The stake will be offered to strategic and private-equity investors while the bidders are like to be finalized in the next three months, according to people close to the matter.

Mr. Jhunjhunwala is the chairman of the firm and along with his investment firm Rare Equity Pvt. Ltd and wife Rekha Jhunjhunwala holds a stake of 32.19% in the company.

The education service provider was founded by Atul Nishar in 1986 and is the oldest company in eh computer education field in India. Mr. Nishar had sold his stake to SSI Ltd. in 2003 before it sold its stake to Mr. Jhunjhunwala in 2005.

Avendus Capital has reportedly already approached a list of potential suitors including TeamLease and Manipal Universal Group for the deal.