The Bain Capital-backed automotive-parts maker is working with The IPO, which is expected to raise about $250 million and take place next year, is likely to include a fresh issue of shares and secondary sales by existing investors at a valuation of as much as$1.5 billion, the people said. Discussions are ongoing and details such as size, timing and valuation may change.A spokesperson for Axis declined to comment, while Dhoot, Bain and the other banks didn’t respond to requests for comment. Bain has a 49% ...