Hinduja chalks out 100-day plan in case it gets Satyam
BS Reporter / Mumbai Feb 12, 2009, 13:48 IST
Hinduja Global Solutions, the BPO arm of the Hinduja group -- one of the interested parties in acquiring the scam-tainted Satyam Computer Services -- said it has written to the merchant bankers involved in the transaction. Moreover, even as it is awaiting a reply, it has chalked out a 100-day plan just in case it is successful in acquiring the Hyderabad-based firm.
"We are very much interested in Satyam and accordingly we have written to the merchant bankers but are yet to receive any communication from their side," said Anand Vohra, CFO Hinduja Global Solutions.
On asked what will be the plan of action in case the company is successful, he told Business Standard: "We will need to have a 100-day plan in place. This will look at four essential areas. One team will concentrate on customers and meet with them and address their concerns. second, we will have a team that will tackle the HR issue and take care of employees issue. further a set of team will look into the account of the company and last, a team will try and see how we can maintain the cash that the company has and make no further loses."
Vohra also said the company has not approached the board or any of the bankers in a personal capacity. However, he felt that the board should hasten the process as there is news that some customers have felt, some more might follow suit.
When asked if the the company is ready to acquire despite the fact that the auditors will still take some time to give the exact numbers, Vohra said: "I think deciding on valuations is going to be tough, as it is also a listed firm and there are various parameters to look for. But we feel that there will be surprises and some risk element associated with Satyam."
He also felt that there are couple of things that will be key to valuations--genuine number of customers, liability or an estimate of liability that the company will have and the implications of pending cases. Hinduja Global solutions employees about 14,000 people and serves over 80 clients. The company also has some common clients with Satyam.
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