Iqvia Investment Holdings Limited (Foresight Group International) led by NRI businessman Ravi Mehrotra may not bid for The Shipping Corporation of India Limited (BSE:523598) which is being privatised by the government, multiple sources said. “Foresight is re-considering its interest to bid for SCI and is unlikely to participate in the financial bid expected sometime this week," a person with knowledge of the matter said, asking not to be named. Foresight's departure will leave three bidders in the fray for the government's 63.75% stake in the country's biggest ocean carrier: Vedanta Limited (NSEI:VEDL), Safesea Group and Megha Engineering & Infrastructures Limited.

Foresight did not respond to multiple mails seeking comment.