One of India’s leading computer brand Patni computer Systems had announced for bidders to buyout their company, for which the submissions end today. All the prospective bidders will complete the process today.

The board has already made it clear that the winner of the bid will be a company with prior IT experience. A private equity firm by the name of General Atlantic and Patni's founders that own 63% of the stake will now be for sale with iGate Corp and Apax Partners being the frontrunners for the bid.

A consortium that includes Carlyle and Advent will also be taking part in this auction and will be providing stiff competition to these brands.

By the end of this week the Patni board will be finalizing the bidders. Also in the race are two private equity firms that will be bidding for controlling stake in the company.

The stocks of the company have taken a setback and not digested this news too well, as they have crashed by 2% on the market. Current prices are at Rs. 474 down by Rs. 7.65. The intraday high and low are of Rs. 488 and Rs.
466 respectively.