Sky said that the Indian company were among a “clutch of prospective bidders”. Equiniti, which has 2,700 employees across 27 office locations, has not commented on what has been reported.

The business said that its clients include around half of the FTSE 100.

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The company described itself as “one of the UK’s largest providers of pension, payroll and annuity administration, supporting 2.9 million members”.

It said: “The 750 schemes we support cover the full spectrum of sizes and arrangements including Defined Benefit, Defined Contribution and Hybrid arrangements, in both the public and private sectors.

“We make payments totalling over £13 billion per annum to pensioners, dependants and annuitants in over 180 countries worldwide.

“We actively work with the pensions industry to raise standards, promote best practice and pioneer new approaches, and in 2012 we became the private sector partner to MyCSP, the first government mutual joint venture."

Wipro described itself as a global information technology, consulting and outsourcing company with 158,217 employees serving clients in over 175 cities across six continents.

The company posted revenues of about £4.9billion for the financial year ended March 31.