India-based Religare Enterprises and Australian investment bank Macquarie Group have joined the list of bidders for AIG Investments, according to media reports.

Religare could pay around $600 million to $700 million for the business, according to India's Economic Times in an article published Monday. Religare has reportedly been in discussions with AIG Investments for almost two months.

Meanwhile, Bloomberg reported Friday that Macquarie Group was bidding for the business, citing two sources.

AIG Investments, headed by Win Neuger, has $100 billion under management.

Last month, the Wall Street Journal reported that the firms that have expressed interest in the business include Franklin Resources, Ashmore Investment Management, Hellman & Friedman, Rhone Group, TA Associates, Southgate Alternative Investments. 

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