U.S.-based iGate Corp's bid for fraud-hit Satyam Computer Services will be well short of the current market price, its chief executive told a television channel on Monday.

At 0514 GMT, Satyam shares were trading 0.2 percent lower at 45.45 rupees rupees (88 cents).

iGate is among a clutch of companies that have expressed interest in buying the Indian outsourcer that is battling for survival.

($1=51.6 rupees)

(Reporting by Narayanan Somasundaram; Editing by Ranjit Gangadharan)

Mahindra Satyam Price