Satyam sets no floor price for bids
Satyam Computer Services has announced the bidding modalities for acquiring a majority stake in the company, on a day when CBI got custody of its former chairman and suspected partners in the 7,800crore fraud.
Many interested parties are gearing up to take part in the ‘transparent’ bidding process after the Satyam management issued an expression of interest (EoI) on Monday. The earlier issue of knowing the financial position of Satyam has also been taken care of.
The EoI, issued after getting permission from the Securities & Exchange Board of India, sets no floor price for the bidders, though they will have to furnish proof of fund availability of at least Rs 1,500 crore.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Many interested parties are gearing up to take part in the ‘transparent’ bidding process after the Satyam management issued an expression of interest (EoI) on Monday. The earlier issue of knowing the financial position of Satyam has also been taken care of.
The EoI, issued after getting permission from the Securities & Exchange Board of India, sets no floor price for the bidders, though they will have to furnish proof of fund availability of at least Rs 1,500 crore.
To read the full article, click here..
To read the ePaper, visit: http://epaper.financialexpress.com
Labels: bidders, bidding modalities, expression of interest, financial position of Satyam, Satyam, Satyam management, Sebi
posted by PressMart Team at
1:16 PM
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