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Ambit Corporate Finance Pte and Avendus Advisors are the two investment banks advising the sellers in Patni Computer Systems. The Economic Times reports that Ambit has been appointed by Patni Computer Systems to advise on the stake sale by the two young Patni brothers Ashok and Gajendra Patni and the private equity investor General Atlantic.

Avendus is also advising the two Patni brothers Asok and Gajendra. Ashok and Gajendra hold about a combined 29 per cent, while General Atlantic holds about 16.38 per cent stake. Chairman and CEO Narendra Patni holds about 14.97 per cent stake in the company.

Meanwhile, Hindustan Times reports that private equity firms like Apax Partners, Texas Pacific Group and Blackstone are considering another round of due diligence for acquiring Chairman and CEO Narendra Patni's stake in Patni. The stake sale is very much in the air, but there are contentious issues like whether Narendra will give up his control, and finally whether private equity funds will pay up a control premium to the sellers. The rumour is that the deal may value Patni share at Rs 650-700 apiece, while currently the shares are trading at Rs 530.