By Shailendra Bhatnagar

Nov. 6 (Bloomberg) -- Blackstone Group LP and Warburg Pincus LLC are among private equity firms in talks to buy 32 percent of Sony Entertainment Television India Ltd., the Economic Times reported, citing unidentified people.

Indian shareholders seeking to sell are valuing the company at $1 billion to $1.5 billion, the newspaper reported today. The potential sellers include Indian actor Jackie Shroff, Shemaroo Films Managing Director Raman Maroo, World Media group director Sudesh Iyer and MobiApps Holding's Jayesh Parekh, it said.

At least four private equity firms, including Standard Chartered Private Equity, may bid for the stake, the Indian newspaper said.

Kunal Dasgupta, chief executive officer of Sony Entertainment in India, couldn't immediately be reached on his office phone.

Arijit De, a spokesman for Standard Chartered Bank in Mumbai, declined to comment. Rajesh Khanna, managing director at Warburg Pincus in India, and Akhil Gupta, chairman of Blackstone Advisors India Pvt. Ltd., weren't immediately available to comment.

To contact the reporter on this story: Shailendra Bhatnagar in New Delhi at sbhatnagar3@bloomberg.net .