(PTI) Prospective suitors, including the likes of Tata Steel and JSW Steel, eyeing UK—-based Stemcor Holdings’ Indian assets worth $800 million have been set a deadline of September 10 to put in their formal bids.

“The management of Stemcor has set September 10 as the deadline for putting bids. They have also sent out Information Memorandum to all parties,” a source said.

There are around a dozen parties which have evinced interest to buy the Indian assets that include a majority stake in an mining and trading firm, a minority stake in an operating iron ore mine and a firm having four million tonne per annum iron ore beneficiation plant.

Apart from Tata Steeland JSW Steel, Essar Steel, Jindal Steel and Power, Adani and Aditya Birla Group are also in the fray to buy these assets, sources said.

The current management of Stemcor India would also took part in the auction, which is likely to take place within September itself.

However, they would now put in a lower bid, the source said.

Minority shareholder in Stemcor India, the Kolkata-based Saraf family, is understood to have decided neither to take part in the auction nor to side with any party for acquiring the assets.

The Indian assets, estimated to be worth $800 million, will certainly boost the captive supply of an acquirer at a time when almost all of them are expanding capacities.

The assets will also help them to ensure long-term supply as well as value addition capabilities.

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