Karnik: Key role

New Delhi, Feb. 24 (PTI): The board of Satyam will meet again on Thursday to discuss the process of stake sale and is likely to finalise the norms for inviting expressions of interest (EoI) from parties.

A company spokesperson said the board was scheduled to meet on February 26 but gave no further details.

The board is also expecting an approval from market regulator Sebi before drawing up plans for the first step of stake sale — inviting EoIs.

The board is also likely to discuss as to what extent information with regard to clients and receivables from them could be shared with prospective bidders.

The process has to be put on fast track as the visible revival in the company in terms of client acquisition should not be lost on delays, the source said.

Satyam board chairman Kiran Karnik had earlier said that by the end of the week the company should be in a position to share the details of the stake sale process with potential bidders after getting the regulatory approval.