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Aditya, which owns a copper mine in Queensland and another in Western Australia, will soon make a formal takeover bid for Whitehaven, as reported in India’s Business Standard.
The diversified company is yet to branch out into coal production but is a major cement producer and is India’s second-largest producer of carbon black, which is commonly used in tyre manufacturing.
The total group has a market cap of at least $US29 billion.
The deadline for binding bids is expected to be in early April.
Whitehaven’s board has not announced a definitive timeline for its sale, which was officially launched in late October.
Other companies rumoured to be in the running include major American coal companies Alpha Natural Resources and Peabody Energy, and Thai energy giant Banpu.
Interest in Whitehaven from cashed-up Chinese and Indian companies was expected.
The New South Wales coal producer has a market cap of around $A3.3 billion. Its shares were up 21c to $6.68 by 3.45pm AEDT.
