Many global private equity investors have expressed their interest in buying a stake in Kalyan Jewellers, the Indian jewellery retailer's executive director Ramesh Kalayanaraman has confirmed.

In a recent interview, Mr. Kalayanaraman said a number of global investors approached the retailer's management with proposals to buy an 8-12 per cent stake for up to $250 million.

Speaking on the topic, he said, "Many have approached us for an 8-12% stake for a valuation of $200-250 million. However, the management has not decided on private placements so far."

However, he declined to reveal the names of companies that have expressed their interest in a stake buyout. But according to two sources, who claimed to have direct knowledge of developments, Kalyan Group is in talks with Blackstone, Temasek Holdings and TPG Capital Management to sell a minority stake.

The news about stake sale surfaced as the retailer is planning to make a foray into Singapore and Malaysia in 2015, and list its shares in the next 2-3 years.

It has plans to ten showrooms, including two in Mumbai and three in Delhi, within the next fortnight. Currently, it operates a total of 52 showrooms. The jewellery giant expects its revenue to jump from around Rs 10,000 crore last fiscal to nearly Rs 14,000 crore this fiscal.