JSW Steel Limited (BSE:500228) plans to bid for the insolvent Gontermann-Peipers (India) Limited (BSE:504701). Besides JSW Steel, an asset reconstruction company has evinced interest in the stressed asset. Eventually, more bidders may join the race as the deadline for placing expressions of interest (EoIs) is October 8, 2020, the sources added.

JSW Steel declined to comment on the development.