U.S.-based private equity group Blackstone is likely to join the race to acquire a 26 percent stake in state-run financial lender IFCI Ltd , the Economic Times said on Tuesday.
Blackstone could come in as a standalone strategic investor or as the lead partner in a consortium, the report said citing sources.
Company officials were not immediately available for comment.
Other firms that are likely to submit their bids for IFCI include Standard Chartered Bank, Citigroup, Reliance Capital , Barclays and Swiss UBS Securities, the report said without citing sources.
Earlier media reports have indicated that Punjab National Bank , Life Insurance Corp of India and IDBI Ltd are also likely to bid for the stake.
Last month, the lender had invited expressions of interest for the 26 percent stake. The last date for bid submission is September 14 and the shortlisted candidates will be named on September 25, the report added.(Reuters)