Several of Indira IVF’s major owners are considering selling their stakes in the Indian in-vitro fertilization clinic operator in a deal that could value the business at around $1 billion, according to sources familiar with the situation.

The founders of Indira IVF and the private equity firm TA Associates have held early negotiations with potential advisers on the sale of their assets, according to the individuals, who declined to be named because the information is secret.

As conversations are still in the early stages, the owners may opt to keep their stakes for a longer period of time, according to the persons. A TA Associates employee declined to comment.

The shareholders of the firm, including TA Associates, will seek to monetize their ownership at the appropriate moment and in a methodical manner as part of their investment plan, according to a spokesperson for Indira IVF who responded to a query from Bloomberg News. The spokesman, nevertheless, refrained from going into any further detail.

Indira IVF was founded in 2014 and, according to its website, currently manages over 110 fertility clinics with over 250 experts around India. 2019 saw the secret acquisition by TA Associates of a sizeable minority share in the business.

In accordance with the most recent press release from TA Associates, the company has raised more than $48.6 billion in total since its founding in 1968. There are more than 110 investment experts working for the business in Boston, Menlo Park, Austin, London, Mumbai, and Hong Kong.