Bangalore: Fraud-hit Satyam Computer Services Ltd could announce the buyer of a majority stake in it as soon as April 13, the deadline for submitting bids.
The Indian outsourcing firm, reeling since its founder and chairman quit in January after unveiling an accounting fraud, is trying to find a buyer of a 51 per cent stake to restore the confidence of its clients and staff.
Following are five facts about Satyam:
- Satyam, ranked as India's No 4 software services exporter before the fraud, was founded in 1987 by Ramalinga Raju, who was born into a family of farmers and is a management graduate from Ohio University.
- Satyam debuted on the Indian markets in 1991, followed by a listing in New York in 2001. Last year, it launched a secondary listing on Euronext Amsterdam under NYSE Euronext's new "fast path" process for cross-listings in New York and Europe.