Satyam’s New Owner To Be Announced On April 13

Satyam’s New Owner To Be Announced On April 13Satyam Computer Services is ready to have a new owner on April 13.

Deepak Parekh, Satyman board member and HDFC Chairman, announced that suitors will now have more time to submit their financial bids for the company.

He said that the financial bids will be opened at 9 am on April 13.

Moreover, the winner will be declared on the same day.

Previously, the date for submitting the financial bids was April 9. The time- line has been raised by 4 days to provide more time to the bidders for due-diligence of Satyam’s assets and liabilities.

Six suitors comprising Larsen and Toubro, Tech Mahindra and Wibur Ross are in the race to acquire the scandal hit IT firm.

The company, which makes the highest bid, will be announced as the new owner of Satyam.

Bidders have been given data regarding the income streams, order book position, present assets and liabilities and fixed assets of Satyam to set suitable price for the company.

The bidders will be given additional information today, said Parekh in Mumbai.