A group of Indira IVF’s largest shareholders are considering selling their holdings of the Indian in-vitro fertilization clinic operator in a deal that could value the company at about $1 billion, according to people familiar with the matter.

Private equity firm TA Associates, together with the founders of Indira IVF, have held initial conversations with potential advisers on the sale of their stakes, said the people, who asked not to be identified as the information is private.

Considerations are at an early stage and the owners could decide to keep their stakes for longer, the people said. A representative for TA Associates declined to comment.

Indira IVF’s shareholders, including TA Associates, will seek monetization of their stake at the appropriate time and in a systematic manner as part of their investment strategy, a representative for Indira IVF said in response to a Bloomberg News query, declining to comment further on specific details.

Established in 2014, Indira IVF runs more than 110 fertility centers across India with over 250 specialists, according to its website. TA Associates bought a significant minority stake in the company for an undisclosed amount in 2019.

TA Associates has raised more than $48.6 billion in capital since it was founded in 1968, according to its latest press release. The firm has more than 110 investment professionals in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong.

–With assistance from Preeti Singh.