The Carlyle Group Inc. (NasdaqGS:CG) has selected JPMorgan Chase & Co. and Kotak Mahindra Bank to help arrange Hexaware Technologies Limited?s planned initial public offering in Mumbai this year, according to people familiar with the matter. The US investment firm plans to hold the IPO as early as in the fourth quarter of this year, the people said, asking not to be identified as the deliberations are private.

More bankers will likely be added for the potential $1 billion offering, which may value the Indian information technology company at as much as $6 billion, they said. An IPO would help owner Carlyle pare a part of its holding in Hexaware, the people said. Deliberations are at an early stage and Carlyle may decide against the share sale, the people said.

At about $1 billion, it would be the biggest IPO in the country since Life Insurance Corp. of India?s offering in 2022, according to data compiled by Bloomberg. Details such as the IPO size and value of the company could still change, the people said.

Representatives for Carlyle, Kotak and JPMorgan declined to comment.