JSW, Liberty House and Tata likely to bid for Usha Martin steel business

At least three companies — JSW Steel, Tata Steel, and Liberty House — are understood to be evaluating a bid for Usha Martin, which is in the last lap of divesting its steel business.

Of the five companies in the fray, these three are potential bidders, source said. Bids are expected to be invited this month.

JSW is in the process of doing a due diligence, which is expected to be completed in a few weeks, said Seshagiri Rao, company’s joint managing director and group chief financial officer. Rao, however, clarified the company would evaluate a bid if it was a good