VDR entry will permit the bidders to acquire detailed monetary details about the corporate in addition to scrutinise monetary liabilities, contracts and different materials related for making a monetary bid, these individuals mentioned.
Additionally, GoI has additionally set a bid bond quantity of Rs 20 crore that bidders can have to submit with their monetary bids due in September, in accordance to the sources.
The GoI’s Department of Investment and Public Asset Management was but to reply to emailed queries till press time.
The authorities is promoting its 63.75% stake in SCI. The profitable acquirer will even have to make an open supply for an additional 26% within the firm held by public shareholders.
The whole value of the acquisition might contact round $590 million.
Three bidders — US-based Safesea, a consortium led by NRI businessman Ravi Mehrotra and Hyderabad-based Megha Engineering — have been shortlisted to bid for the delivery firm.
A consortium of personal fairness fund Bain Capital and delivery firm JM Baxi have withdrawn from the bidding course of.