Apax Partners has hired Credit Suisse Group AG and Jefferies Group LLC [JGLL.UL] to manage the IPO, the source said.
Bloomberg, which first reported the story, said shareholders and other executives of Permanent Capital Vehicle would be prevented from selling their stakes through a lock-up.
Apax Partners declined to comment on the story.
Credit Suisse and Jefferies could not be reached for comment outside regular business hours.
(Reporting by Ankush Sharma in Bangalore; editing by Meredith Mazzilli)
By Greg Roumeliotis