Securities and Exchange Board of India (Sebi) has sought certain clarifications regarding the open offer for Mysore Cements by Cementrum IBV and HeidelbergCement AG.According to a release issued by Mysore Cements to the BSE today, "in terms of Regulation 18(1) of the Sebi Takeover Code, the draft letter of offer has been submitted to Sebi on August 4, 2006. Sebi has sought some clarification, which are in the process of being submitted. Thereafter, Sebi will be issuing their observations in terms of proviso to Regulation 18(2) of the Sebi Takeover Code. "The original schedule of activity as disclosed in the public announcement is, therefore, delayed, and the revised schedule of activity will be announced on receipt of the observation from Sebi."Cementrum had announced an open offer to shareholders of Mysore Cements at Rs 58 per share.The stock is trading on a flat note at Rs 53.60 on the BSE.
