The Carlyle Group L.P. (NasdaqGS:CG) is competing with a consortium of Kedaara Capital Investment Managers Limited and Partners Group Holding AG (SWX:PGHN) to buy Vishal Mega Mart Private Limited from current owners TPG Capital, L.P. and Shri Ram Switchgears Limited (NSEI:SRIRAM), said people with knowledge of the matter. Flipkart Online Services Pvt. Ltd. is also said to be in the fray, said one of the persons, but this could not be independently verified.

Potential suitors, selected after an initial round of screening, are currently conducting due diligence. TPG had mandated Kotak Mahindra Bank last year to find a buyer for its investment in Vishal.