India, May 3 -- Manipal Group chairman Ranjan Pai's investment office Claypond Capital and Axis Bank are in early discussions to invest in gold loan startup Rupeek.

The round will likely see the value of the Accel and Peak XV Partners-backed startup being cut, and give partial exit of some existing investors, ET reported.

"Pai's office is looking to invest in Rupeek but the amount has not been finalised yet," the report said, citing sources. The report further said that Axis Bank's involvement is going to be a key to the deal which is expected to be valued at $200 Mn- $250 Mn.

The sources further added that the investment could be part of the partnership that Rupeek is building with Axis Bank for gold lending. The talks are still at an...