Heidelberg has to cough up more for Mysore Cements

There are reports that market regulator Sebi may ask Heidelberg to up its open offer price for Mysore Cements to Rs 72.50, up from the earlier Rs 58.

Heidelberg had paid Rs 72.50 per share to the promoters and Rs 14.50 per share as non-compete fees.

Heidelberg was initially to make open offer at Rs 58 for a further 22.15% of equity capital. If the open offer is successful, Heidelberg will have a 73.3% stake in Mysore Cements, and promoters' holding would be reduced to 5.4%.