Giesecke & Devrient GmbH, Fortress Paper Ltd. (FTP) and Arjowiggins SAS are favorites to split the contract, the newspaper said, citing unidentified persons.
Any decision would be made by the finance ministry, Reserve Bank of India spokeswoman Alpana Killawala in Mumbai said when contacted by Bloomberg News for comment. D.S. Malik, a spokesman for the finance ministry in New Delhi, declined to comment.
Separately, Francois-Charles Oberthur Fiduciaire SA, a French maker of smartcards, is said to be considering reviving a bid for De La Rue, although the group is also weighing moves on other potential targets, the newspaper reported, without saying how it got the information.
Officials at Basingstoke, England-based De La Rue weren’t immediately reachable for comment outside of normal business hours.
To contact the editor responsible for this story: Andrew Rummer at firstname.lastname@example.org