Rich Energy is heading a consortium to buy the F1 team and the move would see it extend its rivalry with market leader Red Bull to the world of motor sport.
Talks are at an advance stage and a deal is said to be close.
Founder and chief executive William Storey said that being in F1 will help the firm, which sells its namesake premium energy drink in 23 countries, to expand its presence around the world.
“F1 is the perfect platform for the brand, Motorsport is all about a fast, glamorous lifestyle. It works for Red Bull,” he added.
Force India, which finished fourth in last season’s constructors championship, is being sold by UK-based Indian drinks tycoon Vijay Mallya, who is currently fighting attempts to extradite him back to his home country, where he faces allegations of money laundering