Jindal Steel & Power Limited (NSEI:JINDALSTEL) and two other groups were the latest to express interest in bidding for Reliance Naval and Engineering Limited (BSE:533107), according to people familiar with the matter. For Jindal Steel, controlled by Naveen Jindal, Reliance Naval can be a captive client for the company's shipbuilding plates, said Vidya Rattan Sharma, managing director at the steelmaker, who confirmed Jindals interest. Gulf Marine Services PLC (LSE:GMS)  and Kotak Special Situations Fund were among the others that registered to bid as of the Feb.

28 deadline, according to the people, who asked not to be identified as the matter is private. The process to find a buyer for the indebted shipyard, once controlled by former billionaire Anil Ambani, began in May with deadlines being extended four times already. A successful sale of Reliance Naval will help creditors including IDBI Bank Ltd. and State Bank of India recoup part of the company's INR 108 billion ($1.5 billion) of debt.

GMS and Kotak fund and Sudip Bhattacharya, the insolvency resolution professional for Reliance Naval, didn't immediately respond to emails for comment.