Stemcor to open bids for India asset sale in Feb

London-based Stemcor Holdings will open bids to sell its iron assets in Odisha in the first week of February, a company spokesperson told Business Standard on Monday.

"Once the financial bids are submitted on Monday, we will be getting into detailed discussions with bidders and negotiate with them for the next two weeks," the spokesperson said.

Goldman Sachs is managing the auction. "The Stemcor India asset deal is quite a complex one and so, we cannot say how we will award it. It is not a straightforward deal," the spokesperson said, without divulging the details of how the deal would be awarded.