Fossil Group Inc. has invited investment banks to pitch for roles on a potential initial public offering of its India business that could raise as much as $300 million, according to people familiar with the matter.The US-based lifestyle accessories maker is considering selling as much as a 25% stake in Fossil India Pvt., the people said, asking not to be identified as the discussions are private. The IPO could take place early next year, they added.Deliberations are ongoing and details including the size, structure and timing of the offering could change, the people said. A US-based representative for Fossil Group did not respond to a request for comment.The listing would make Fossil the latest multinational company seeking to unlock value from its India business, where strong investor demand has helped drive higher valuations than in home markets.Companies like Hyundai Motor Co., LG Electronics Inc., Carraro SpA and Tenneco Inc. have recently listed their India units in Mumbai. Others, including Hindustan Coca-Cola Holdings Pvt., Pernod Ricard India Pvt. and Carlsberg India Pvt., have been reported to be evaluating potential listings.Fossil’s portfolio includes its namesake brand, Michele and Skagen, as well as licensed brands such as Armani Exchange, Diesel, Emporio Armani, Kate Spade New York, Michael Kors and Tory Burch, according to its website.