India's ABG Shipyard has attracted bids of between INR 30bn and INR 35bn ($540.6m), according to sources close to the matter.
The Economic Times reported that Mahindra & Mahindra (M&M), Shapoorji Pallonji Group and Liberty House of the UK are vying for control of the restructuring shipbuilder.
Bid levels suggest a haircut for the selling banks of 70% of their outstanding loans.
