At least three players, including Monnet Ispat and the London-based Metdist Group, have evinced interest in acquiring a majority stake in the state owned Manganese Ore India Limited, initial bids for which closed on Monday.
Among the others reported to be in the fray include the employees of the company who have sought to acquire stake at the reserve price, according to the informed sources in New Delhi.
However, confirmation could not be obtained from steel major Tata Steel and Mukand Group.
The Centre proposes to divest 51 per cent stake in the joint venture company, where it holds close to 82 per cent stake, along with Madhya Pradesh and Maharashtra governments.
Madhya Pradesh government, which holds a minority eight per cent stake, has joined the Centre, exercising its tag along right, putting its entire holding on the block.
However, Maharashtra government is yet to respond to the Centre's invitation for joining the divestment exercise.
The strategic partner would therefore be offered close to 60 per cent stake along with management control.
International merchant banker KPMG has been appointed as global advisors for the deal.
Centre has stipulated a Rs 75 crore net worth criteria for the prospective bidders.
