Indian conglomerate, Videocon Industries said on Wednesday that it is thinking of selling 26 per cent stake to one or many foreign players.

Talking to the media, Videocon Chief, Venugopal Dhoot said that many foreign companies are interested in buying their stake and they may use this opportunity to offload 26 per cent of their equity.

He also added that as of now, no one player has been finalized and that the company is waiting for a proper valuation. The current value of Videocon Industries is Rs. 12,000 crore and it needs more money to be able to fuel its expansion.

The diversified firm, which saw a revenue of $4 billion for the last fiscal has gone for a complete makeover. It came up with a new logo in 2008 and has entered into the area of mobile handsets and direct-to-home services.

The group expects to touch $10 billion mark by 2013, most of which is expected to come from the handset business.

Videocon Mobiles has its services going on in the states of Tamil Nadu, Gujarat and the city of Mumbai.

Videocon has also signed an agreement with Philips to sells its TVs in India.