Sebi investigating L&T offer

NEW DELHI: Sebi is examining the investors'' grievances forum petition seeking stay on Grasim Industries'' open offer for L&T.
"We have received a representation from IGF and will not delay any action in this issue�, Sebi chairman GN Bajpai said.
Sebi is already conducting an enquiry into charges of insider trading in L&T scrip involving the earlier purchase of over 10 per cent stake from Reliance.
L&T will discuss the open offer made by Grasim Industries for L&T''s 20 per cent equity with the financial institutions prior to its board meeting on October 29.