Electrosteel may see a higher revision in bids from all four companies

The four companies who had bid for Electrosteel Steels - Vedanta, Tata Steel, Edelweiss and Renaissance Steel India

Electrosteel Steels, for which Vedanta had emerged as the highest bidder, is likely to see a revision in bids. 

Vedanta had offered Rs 45 billion-plus additional sops and emerged as the highest bidder for Electrosteel Steels at the close of the bidding process on January 4. 

It has now offered to raise its bid to around Rs 52 billion while Edelweiss ARC has also agreed to raise its offer to Rs 45 billion said sources close to the development. Tata Steel had bid around Rs 35 billion and has also increased its bid.  

Four companies had bid for Electrosteel Steels — Vedanta, Tata