Under Indian securities rules interested bidders must make a public offer for a 20 percent stake with the option to go to 51 percent.
The deadline to register your interest in bidding is March 12 at 5 p.m. Indian Standard Time.
Any bidder that has registered to bid will get a request for proposal (RFP) and have to submit an expression of interest in the company.
You'll also have to prove that you have funds of about $290 million available to you.
Eligible bidders will be short-listed and given access for due diligence under a non-disclosure agreement.
Satyam says the process "for selecting a bidder shall be overseen by a former Chief Justice of India or a former Supreme Court judge appointed by the Company."
If interested, see the Satyam site. If you pretend you're an institutional investor you get to see more of the process. I didn't express an interest given I don't have the $290 million lying around (and wouldn't pay that for Satyam anyway).