In the letter dated February 1, it has requested the Securities and Exchange Board of India (SEBI) to allow the company to make a public announcement for competing offer in relation to Burmans’ open offer under regulation 20 of the SAST regulations. It also urged SEBI to issue a direction to keep Burmans’ open offer in abeyance so that the public shareholders are able to tender their shares in both, the Burmans’ open offer as well as their proposed competing offer.
