According to reports, Chhabria has selected a venture capitalist from the United States for picking up the equity. However, he declined to give any details. He is reported to have said that the final agreement would be signed within two months.

Amongst Chhabria's famous designs is a stretch-Contessa with a television and bar, along with plush upholstery and a Tempo Traveller that has been converted into a stylish home on four-wheels. His designs can cost a fortune. Some, like his Maruti `Better than Sex' 800, that comes for around Rs 3,50,000 are fairly affordable though.

Popularly known as DC, he is also identified as the man behind Shah Rukh Khan's unusual red-coloured cabriolet in the movie Dil to Pagal Hai.

"This is part of our plan toexpand our reach and go national," Chhabria is reported to have said.

The equity capital of DC Designs is at present Rs 18 crore. Under the tie-up, Chhabria would give away the minority holding to the foreign partner with a clause that the partner would exit after five years by selling the equity back to DC Designs at a premium.

DC Designs only changes the look of the vehicle and not its safety features.