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Electrosteel Steels owes Rs10,274 crore to a consortium of banks led by State Bank of India (SBI).
Canada’s CPPIB is also learnt to be interested in the assets.
US-based global private equity firm The Blackstone Group Lp is already in talks to buy the fund.
Piramal has invested about Rs1,400 crore in Omkar 1973 including Rs1,200 crore debt and Rs200 crore in equity.
Blackstone previously owned another Indian auto parts maker Agile Electric Sub Assembly.
Early this month, Shriram Transport Finance invested $1.09 million to acquire a 17% stake in Freight Tiger.
The company is set up under Piramal Finance with an initial capital of $152m.
This makes PremjiInvest the single-largest shareholder in Shubham Housing.
Indira IVF will sell about a 20% stake for Rs 700 crore, valuing the company at Rs 3,500 crore
Fosun has agreed to cut the size of the stake it will buy in Gland Pharma to 74%, having previously targeted 86%.