The board of Satyam Computer Services
Indian engineering conglomerate Larsen & Toubro
The shortlisted bidders will do their due diligence of Satyam over the next two days, it said, quoting a person familiar with the development.
A spokeswoman for Satyam said the company would not make any comment on the bidding process.
Spice Group Chairman B.K. Modi told Reuters on Wednesday the company might withdraw from the race to buy Satyam due to a lack of desired transparency in the bidding process.
New York-listed Satyam
Satyam said on Tuesday it hoped to finalize a by April 30, and that potential bidders, who had submitted a detailed expression of interest by March 20, should expect to receive a response by Wednesday.
The Satyam board is looking for a buyer to help restore the confidence of its more than 600 clients and about 50,000-strong staff, but there are concerns about the extent of the fraud, whether it is losing customers and its legal liabilities.
The company's accounts are yet to be restated.
(Reporting by Sumeet Chatterjee; Editing by Ranjit Gangadharan)