Reliance Big Entertainment is looking to raise $500 million, divesting around 10 percent equity, reports the Economic Times. The company is in talks with PE funds like Kohlberg Kravis Roberts & Company (KKR), Softbank (Japan), investor Carl Icahn, and the Abu Dhabi Investment Authority. Reliance Entertainment, however, has declined to comment.

SEE ALSO: George Soros Picks Up 3 Percent Stake In Reliance Entertainment For $100 Million

Reliance Entertainment had earlier diluted 3 percent stake to investor George Soros for $100 million; sources tell ET that the company is not looking to dilute more than 15 percent equity. As per the story, Reliance BIG Entertainment also comprises of BIG FM and the theme parks business, but that’s not what the company had told us earlier this year: We were told that Reliance Entertainment comprises of seven entities: Zapak (casual gaming portal), Big Adda (social networking site), Big Flicks (Movie streaming and rental), Jump Games (Mobile gaming), Anirights (Animation), BIG Music, and BIG Movies. The addition of FM and theme parks business would make a BIG difference to the valuations. Reliance Entertainment has previously declined to comment on company structure, so we’re not sure where Big Broadcasting (and the TV business) belongs either. All should probably be cleared up if and when Reliance Entertainment files for an IPO.