Videocon Industries is looking to sell a 25 percent stake in its direct-to-home broadcast services business for roughly $75 million to $100 million, reliable sources said. The company is said to be in talks with private equity firms.

Potential investors in the unit, branded D2H, include ICICI Venture, the private equity arm ICICI Bank, sources said. Videocon has hired UBS to find an investor, sources added.

However, Videocon and ICICI Venture declined to comment. UBS officials could not be reached for immediate comment.

DTH services have been gaining momentum in India due to increasing spending power in an upwardly mobile population. Videocon D2H had launched its operations in 2009. Other operators include Tata-Sky, a joint venture between Tata Group and News Corp, Airtel DTH from Bharti Airtel, Sun Direct from Sun TV and Reliance Big TV from Reliance Communications .

Private equity investment in India is accelerating, as rising borrowing costs and dormant public markets push firms to cut deals with buyout firms in return for much-needed cash injections.

India is flooded with private equity firms looking for investments -- from global buyout shops like Blackstone, 3i Group and KKR, to homegrown firms like IDFC and IFCI.