The move to allow all eligible bidders to go through with the process comes at a time when the Bharat Aluminium Company (Balco) deal remains unresolved.Official sources said that all players were allowed to proceed with the exercise, as they had met the eligibility criteria.

They further added that all players were being allowed to conduct due diligence exercise, as the government wanted to avoid a situation where a few players would be in a position to dictate terms to the government on crucial issues like shareholders agreement.

The government had decided to offload up to 26 per cent stake in the zinc major, thereby bringing down its stake to 49 per cent. It currently owns 76 per cent stake in HZL. Banking major Banque Nationale De Paris-Paribas (BNP-Paribas) has been mandated to act as global advisors to the government.

Amongst the major players who have evinced interest in the company, were domestic metals major Birla Copper and Sterlite Industries, the new owners of Balco.

(PTI)