(Satyam share price)Satyam commences process to select investor

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HYDERABAD: Satyam Computer Services Ltd has commenced a competitive bidding process for selection of an investors to acquire 51% equity interest in the company. This follows relaxations from certain requirements under Indian law by the Securities and Exchange Board of India Bidding Process * An initial subscription by the selected investor of newly issued equity shares representing 31% of the company’s share capital giving effect to the share issuance. * Upon deposit of the entire subscription amount by the selected investor with the company and requisite funds for the public offer in the escrow account as required under the SEBI Takeover Regulations, the investor will be required to make a mandatory public offer to purchase minimum of 20% of the company’s enhanced share capital. The public offer will be made at the same share price as the price paid by the investor for the initial subscription. sources by:- Economic Times

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