Reliance Industries Ltd.

Mukesh Ambani’s Reliance Industries (RIL) and Indian Oil Corporation (IOC) are in fray to acquire the 31% stake offered by the West Bengal government in the ailing Haldia Petrochemicals. Further, the stake could potentially be valued between Rs 2,000 crore and Rs 2,700 crore, however the final price bids are expected in October.

Haldia is likely to announce the winners in two to three weeks. However, the final decision on HPL’s stake sale will be taken by the group of ministers (from the West Bengal government) on HPL.

Besides, RIL and IOC, the country’s biggest commercial enterprise, ONGC, GAIL, Jindal Steel and Power, Essar Group and NRI billionaire Anil Agarwal’s Cairn India have also evinced interest in the company.