Mumbai, Dec. 29: A gaggle of suitors is eyeing Satyam Computer Services.

As the Satyam fiasco gets murkier, institutional investors who hold 61.57 per cent in the software firm are likely to be wooed by investors who want to acquire a majority stake in the company.

Investment bankers indicated that several heavyweight private equity (PE) firms were waiting to see how the drama would unfold.

Sources said Texas Pacific Group (TPG), Carlyle and Blackstone were three private equity players that might be interested in Satyam.

Out of these, Texas Pacific is the most interesting to watch. Not only does the firm have the funds to invest in Satyam but it also has former Wipro vice-chairman Vivek Paul in its ranks.

Paul is well placed to steer a company such as Satyam out of the challenging situation that has been created by the recent management headed by Ramalinga Raju.

Paul can give a boost to the reputation of the company that has faced a serious battering in the last fortnight. Attempts to reach TPG, Carlyle and Blackstone were unsuccessful.

There have been reports that IT majors such as IBM and Accenture and some domestic IT firms may also be interested.

The FIIs — angered by the Satyam decision to invest $1.6 billion in two infrastructure firms that the promoter family have interests in — have not indicated the path they are likely to pursue even as almost half of the company’s board dissolved on Monday.

However, an Aberdeen Asset Management official in Singapore told a news agency that it was in discussion with other shareholders.

Aberdeen Asset is the second largest shareholder in Satyam with a stake of over 5 per cent after the promoter family of Rajus who own 8.6 per cent.

“Quite a few things have made the investment community very sceptical about the intentions of the senior management,” the official was quoted as saying.

Fidelity Management is the third largest investor in the company that has a fragmented shareholding pattern. Foreign institutional investors own 46.86 per cent of Satyam.

The role of the FIIs is crucial for the future of Satyam.

The prospective investor is likely to look for a controlling interest so the support of FIIs will be imperative in such a scenario, said an analyst.

PE firms could be encouraged by the sharp fall in the market capitalisation of the company that has plummeted from Rs 15,250 crore before the management announced its decision to buy the two infrastructure firms to Rs 9,989.27 crore on Monday.

Sources said they could buy shares from the market followed by an open offer.