The Spice Group, which has presence in mobile phones, entertainment and real estate, has said on Saturday that it has around Rs 2,700 crore ready to acquire a controlling stake in Satyam Computer Services.
"We are a serious bidder and have enough cash for acquiring Satyam. We have decided to rope in Enam Securities as the investment banker for the deal," Spice Group chairman B K Modi told ET after a board meeting on Saturday evening.
The company has cash from the recent sale of a group company Spice Telecom to Idea Cellular Ltd. "We would go about the trisection in a transparent manner. We would not buy shares from the market. We have already placed a bid before Satyam's board. We prefer a preferential allotment", said Mr. Modi.
