Diversified global business conglomerate, Piramal Group has begun discussions with reputed global private equity players for funding.

In an interview to CNBC-TV18's Prashant Nair, Ajay Piramal, chairman, said, "There are several private equity firms that we are talking to. Even at that time I did not want to name one or any particular one but I can only say that there are several of them whom we are in talks with."

"Around the time that you broke the news about us trying to raise equity, I had then made a public announcement that sometime in this fiscal year, we would raise a billion dollars and I think we are still on track to do that," he added.