India-based oil and gas storage provider East India Petroleum has been put up for sale by US company Global Infrastructure Partners (GIP).
A 74% holding in the company will cost Rs500 crore. A local firm holds the remaining stake.
Kotak Mahindra Capital is responsible for the auction and has already received interest from international and domestic parties.
It is thought local company Indian Oiltanking, a joint venture between Indian Oil and Oiltanking, and the Netherlands-based Vopak could be two of the companies battling it out to acquire the storage firm.
Vopak is present in 31 countries across the world and provides storage solutions to a total of 83 terminals.
East India Petroleum is one of the largest gas storage service providers in India.