Economic Times has reported that IBM is one of the eight bidders for the Indian IT giant Satyam.

Private equity firm Apax Partners is said to be another party involved in the bidding process.

Larsen & Toubro, Tech Mahindra and Spice Group are other parties mentioned in the report.

IBM has not shown interest directly but is said to be involved through a law firm.

Satyam has officially declined to comment on the bidding process for acquiring a 51 percent stake in Satyam which has been struggling to survive after a major fraud was detected in the company.

Spice Group Chairman B.K. Modi has however hinted that they might withdraw from the bidding process due to lack of desired transparency in the bidding process.